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Mexican Banks Tumble on AMLO's Surprise Proposal to Limit Fees

  • Mexican peso, sovereign bonds drop along with bank shares
  • Proposals follow $13 billion airport project cancellation
Andres Manuel Lopez Obrador
Andres Manuel Lopez ObradorPhotographer: Christopher Goodney/Bloomberg
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For the second time in as many weeks, Mexico’s incoming government of President Andres Manuel Lopez Obrador delivered a blow to investors.

Sovereign bonds and the currency slid in tandem with shares of the nation’s biggest banks after the new president’s party proposed the scrapping of some lender commissions.