Panama Court Clears Presidential Frontrunner’s Candidacy, Sparking Bond Rally
- Top court rejects challenge to presidential frontrunner’s run
- Decision removes key risk for bond investors ahead of election
Jose Raul Mulino during his closing campaign rally in Panama City.
Photographer: Martin Bernetti/AFP/Getty ImagesThis article is for subscribers only.
Panama’s bonds rallied after the nation’s supreme court cleared the way for frontrunner Jose Raul Mulino to compete in Sunday’s presidential election, removing a key risk for markets.
Judges on Friday rejected a challenge that sought to disqualify Mulino, a pro-business candidate who leads in polls, the Associated Press reported. The last-minute ruling was embraced by investors with Panama’s dollar notes leading gains across emerging markets.