Expected strong 2Q and Amlo bounce positive for Mexico’s banks

Amlo’s election success was expected, but stunning

The landslide victory of Amlo in the Mexican presidential election on July 1 didn’t lead to a negative impact on the financial markets, as some had predicted.

Assets have performed well and the Mexican banks – on something of a roll – should see these benign economic conditions continue.

Amlo’s success was expected, but stunning: he became the first presidential candidate to win a majority of the popular vote (53%) and, perhaps more important for governability, his coalition (Morena) won an outright majority in both houses of congress – almost two-thirds in the lower house.