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Tuesday, May 24, 2022

International Tours; Visit of Alejandro Mayorkas: Mexico Today

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(Bloomberg) — President Andrés Manuel López Obrador said he will likely visit Los Angeles in June to attend an event where his counterpart Joe Biden will also be present. A few days ago, Foreign Minister Marcelo Ebrard said that the president was present at the Summit of the Americas.

In the world:

US stocks rose on Monday, recovering from consecutive losses as traders took stock of the latest geopolitical developments. Most of the major groups in the S&P 500 advanced, with financials and industrials among the best performers. The 10-year Treasury yield rose to its highest level since July 2019 as the Federal Reserve is expected to kick off a cycle of rate hikes on Wednesday.

  • Crude falls close to US$103; Focus on Russia-Ukraine talks

  • Citi expands its exit from Russia beyond retail banking

  • Emerging dollar bonds could rise on Fed tightening: Chart

  • Chilean Senate close to the moment of truth: Convention Synthesis

  • EU assessment banning the export of luxury cars to Russia

What did AMLO say?

  • He said that there will be a meeting with US Security Secretary Alejandro Mayorkas at noon this Monday. The US official also plans to visit Costa Rica during his trip to Latin America this week.

  • He reiterated that the control of gasoline prices in Mexico, thanks to the increase in what the country obtains from the sale of its crude oil on the international market, helps to control inflation and that this “does not get out of hand.”

  • He read live a response letter from President Alberto Fernández after a few days ago AMLO’s wife delivered a letter of support to the Argentine president

  • He said that Foreign Minister Marcelo Ebrard agreed with the letter that he and other officials wrote directly to respond to a text from the European Parliament that highlighted Mexico as one of the most lethal countries to practice the profession of journalist and which annoyed AMLO. .

  • The president confirmed that Mexico has the covid-19 vaccines necessary for 2022 and that the results of the development of the “Patria” vaccine are “to be known.” This vaccine is derived from the Newcastle virus, donated from the US to various developing countries, but it needs to be recombined and tested in Mexico to achieve an effective vaccine.

Instant Markets:

More information from Mexico:

  • Grupo Bimbo suspends sales, investments and advertising in Russia

  • Mexico curve holds; closer CDS differential

  • Mexican banks will expand margins with higher rates, says BofA

  • Gicsa will meet with bondholders on restructuring March 23

What do the columns say?

  • Raymundo Riva Palacio talks about what is at stake for the Supreme Court and Alejandro Gertz this Monday, where it is expected that protections from a couple of political relatives of the attorney general with whom he has been fighting a personal battle for years will be resolved

  • José Yuste talks about the cost that the Government will pay to absorb the impact of the rise in gasoline prices, which could be around 300,000 million pesos

  • Mario Maldonado had a dispute between Netflix and Televisa and Univision derived from the production of a series based on the life of a popular Mexican singer

More stories like this are available at bloomberg.com

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