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Argentina's Markets Jumpy as President-elect Plots New Path

Reuters

   BUENOS AIRES - Argentina's president-elect Alberto Fernandez pledged to
   lead the country in a new direction on Tuesday amid a "difficult"
   domestic backdrop, as financial markets jumped around with investors
   grasping for any signs of the Peronist's future plans.

   The peso currency and over-the-counter bonds edged up after earlier
   falls, while the Merval stock index was flat. The black market peso
   jumped steeply on month-end demand for local currency after a
   pre-election sell-off last Friday.

   Argentine investors and creditors are closely watching Fernandez for
   signals about his potential policies on the economy, his approach to
   the country's mountainous debt pile and he likely make-up of his key
   team of advisors.

   On Tuesday, a spokesman for the center-left leader confirmed he had
   appointed a small transition team until his government takes over in
   December, though there was no clear sign yet of his picks for key
   economy roles.

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