Commodities
Mexico Rout Spares One Asset: Bonds From Pemex Are Ticking Higher
- Bond spreads tighten as strong mandate allows for turnaround
- Ashmore says picks for Pemex’s top jobs may be ‘game changer’
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The rout in Mexican financial markets has been nearly all-encompassing this month. Stocks, bonds, the peso — they’ve all cratered in the wake of landslide elections that investors fret will hand the leftist ruling party too much power.
And then there’s the debt of state-run oil giant Petroleos Mexicanos.