Ahead on death of former Argentine president and power behind-the-throne

Reuters left competitors standing with the death of Argentina’s most powerful politician, former President Nestor Kirchner, on Oct. 27, news that immediately sent Argentine bonds and stocks sharply higher. Prices of leading bonds rallied by at least 4 percent and the shares of Argentine companies listed in New York rose as much as 13 percent as investors bet Kirchner’s sudden departure marked the beginning of the end of the government’s interventionist economic policies and confrontational approach to business. The spread between the yield on benchmark Argentine bonds and comparable U.S. Treasuries narrowed by up to 70 basis points to 511 basis points. Reuters had already reported that Kirchner was rushed to hospital and we were ahead of Bloomberg and Dow Jones with the first alert that he had died, citing local media, and then ahead again with a confirmation from Kirchner’s personal doctor. Strong coverage included sharp analysis on what Kirchner’s death means for his wife, current President Cristina Fernandez, and ahead of next year’s elections, where Kirchner had been expected to run again.