What Wall Street Strategists Are Saying About Sheinbaum’s Landslide Victory in Mexico
- Currency leads global losses as Sheinbaum cruises to win
- Dollar bonds fall among most in emerging markets on Monday
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Signs that Claudia Sheinbaum will take office with a strong majority in Congress sent Mexican assets lower, as traders fear the incoming leader may have the legislative support to pass anti-market reforms.
The Mexican peso led losses among more than 140 currencies tracked by Bloomberg, sinking 2.9% versus the greenback as of 9:40 a.m. in New York. Dollar bonds fell the most in emerging markets and 10-year interest-rate swaps jumped 15 basis points. Sheinbaum secured a landslide victory to become Mexico’s first female president.