New Record High Set Again By Mexican Stock Market
Another week, another new record high set by the Mexican stock market.
The country’s benchmark IPC index hit a fresh intraday high of 49,590.85 on Monday as investors increasingly discount the likelihood that the Trump administration would be able to deliver fully on its protectionist trade policies.
Having sold off heavily in the wake of Mr Trump’s presidential victory, Mexican assets have made a remarkable comeback since the start of the year. The IPC erased its post election losses last month and the index is now up 8.5 per cent for the year to date.
The peso has also staged a similarly powerful rally. The currency has gone from one of last year’s worst performing major emerging market currencies to this year’s best, clocking in a gain of 11 per cent since the start of January.
More conciliatory comments made by Washington last month have fueled bets that Mexico may avoid some of the extreme outcomes that risk impairing its export-focused model and economy.
Read the rest at FT.com
Related: Mexican Automobile Industry Unaffected by Donald Trump’s Policies (PanAm Post)
Related: Frayed U.S.-Mexico Ties Mend as Trump Refrains from Attacks (WSJ.com)
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