2024-06-27 11:44:28 ET
Summary
- Mexican equities have sold off post-election.
- While somewhat warranted, the extent of the selloff seems excessive.
- Despite its flaws, the steeply discounted Mexico Fund now offers an attractive risk/reward.
Mexico’s latest election result, headlined by a resounding win for governing Morena-PT-PVEM coalition candidate Claudia Sheinbaum, has injected new uncertainty into the Mexico investment case. The key issue is that the incoming Sheinbaum administration will have a large enough majority that market-unfriendly changes to the Constitution, among other major reforms outlined by the AMLO administration earlier this year, may now be on the table....
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Mexico Fund: Tactical Play On A Relief Rally