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Potential Disruption For Energy Reform Boosts Mex Assets

MEXICO
  • The Peso is holding onto gains and TIIE swap rates are seen lower (between 5-11 bps) with the curve bull flattening. The Mexbol, as it's known, was up 0.7% at 8:35 a.m. local time.
  • "It's a powerful reversal," said Carlos Bravo Regidor, a political analyst and professor at the Center for Economic Research and Teaching in Mexico City.
  • In particular, the results will make it more difficult for Obrador to advance his flagship plan to return Mexico's energy sector to state control.
  • Despite the president's enduring popularity, especially among the poor, the results appear to show the limits of his popular mandate to change the nation under a bold program of reforms he has billed Mexico's "Fourth Transformation." (New York Times)
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