Market’s Mexico Concerns Mount As Sheinbaum Pushes Judicial Reform
A week on from Morena's landslide victory in Mexico's largest-ever election, Claudia Sheinbaum's still shaking up markets.
I don't want to make a habit of documenting Sheinbaum's every utterance, but I'd be remiss not to note that the peso's on track for its worst month since the onset of the pandemic.
So far, the currency's more than 8% weaker in June.
That's entirely attributable to market concerns around Sheinbaum and specifically the prospect that she'll leverage a super-majority in Mex
So essentially, we can see the panic from financial markets when the control by the oligarchs is threatened.
I see Mexican equites as a great value investment eventually. Globally over the past few decades liberal/left leaning economic leadership has lead to more stable and ultimately great economic growth than have the right wing oligarchs. The only thing that gets minimized is massive wealth accumulation by the oligarch class.
*greater
We can hope Mexico doesn’t become our hemisphere’s version of Italy, time will tell.
I’m sure hoping Biden and the Dems make “judicial reform” / Supreme Court reform an election issue…while also hoping a significant majority of Americans are tuned in…(you never know)