|Bid||0.00 x 2900|
|Ask||0.00 x 800|
|Day's Range||44.95 - 45.83|
|52 Week Range||43.55 - 57.82|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.49%|
Mexican presidential candidate for the MORENA party, Andres Manuel Lopez Obrador (C) greets supporters on June 8, 2018. Business leaders and investors are biting their finger nails. Let's face it, AMLO is no free-trader.
Mario Draghi, President of the European Central Bank, says their quantitative easing program (QE) ends in December. It’s not the early 2000s or the 1990s, but one thing is becoming clear: the central banks that have propped up securities markets since the Great Recession are now in retreat. The Fed is basically in full retreat, with the European Central Bank announcing its about-face on Thursday.
Mexico will elect Andres Manuel Lopez Obrador, better known by the acronym that bears his initials: AMLO. Survey data suggests a 92% probability of AMLO taking the presidency on July 1. NAFTA will, therefore, have two dueling populists.
Stocks in Mexico, Latin America's second-largest economy, are struggling. The iShares MSCI Mexico Capped ETF (EWW) , the largest exchange traded fund dedicated to Mexican equities, is lower by more than 8% this year compared to a year-to-date loss of less than 1% for the MSCI Emerging Markets Index. Rising political volatility ahead of Mexico's national election next month and lingering concerns about the fate of the North American Free Trade Agreement (NAFTA) are among the factors hindering EWW and Mexican stocks.
Trump is back to threatening tariffs against Canada and the European Union. President Donald Trump was back at it last week, threatening tariffs and getting old allies riled up. From Canada to Germany, Trump is an affront to the post-World War II Atlantic trading alliance.
Investors sour on Mexico's markets and country-related exchange traded fund as political risk mounts. The iShares MSCI Mexico Capped ETF (EWW) , the largest exchange traded fund dedicated to Mexican equities, declined 13.4% over the past month, its largest monthly loss since September 2011. Scaring off investors, there is a chance of a landslide victory for Mexico's far-left presidential candidate, Andres Manuel Lopez Obrador, in the upcoming election on July 1, CNBC reports.
Mexico's benchmark stock index, the S&P/BMV IPC, plummeted 7.6 percent in May, marking its biggest one-month decline since February 2009. The move lower in Mexican stocks comes as Lopez Obrador, better known as AMLO, extended his lead over his opponents last month. The chances of a landslide victory for Mexico's far-left presidential candidate, Andres Manuel Lopez Obrador, are growing and that is scaring investors.
Let's have a look at some ETFs that are poised to benefit from global trade war fears and some that are likely to be affected.
The U.S. made friends with metalworkers Thursday, but not with anyone else. In a move terminating temporary exemptions, Commerce Secretary Wilbur Ross announced the U.S. will enforce 25-percent steel and 10-percent aluminum import tariffs on Canada, Mexico and the European Union beginning Friday, putting its friends and neighbors on the same plane as all other U.S. trading partners. The European Union reacted swiftly with threats of retaliation.
According to a report by Markit Economics, Mexico’s (EWW) manufacturing activity witnessed a weaker rise in April than in March. Its manufacturing PMI was 51.6 in April compared to 52.4 in March. It didn’t meet the market expectation of 52.
Economists surveyed by FocusEconomics doubt Trump turns his back on Mexico. Another deadline is approaching in the North American Free Trade talks between the U.S., Mexico and Canada. Economists surveyed by FocusEconomics said recently that they expect NAFTA survives the renegotiation process but are split on the specifics of the revised deal.
According to Markit Economics, Mexico’s (EWW) manufacturing activity improved in March, with its manufacturing PMI (purchasing managers’ index) rising to 52.4 from 51.6 in February. The PMI figure exceeded the market expectation of 52.
Wall Street is willing to declare Obrador the winner but is not yet willing to price it into the Mexican stock market. Time to get out?
This NAFTA deal isn't getting done by May, as many investors were hoping. Time is running out even for a deal by mid-year, let alone by the July 1 Mexican presidential election in which Andres Manuel Lopez Obrador (AMLO), a populist, is seen as the winner. In the absolute best-case scenario, trade negotiators from the U.S., Mexico, and Canada would need to resolve their differences in about 8 weeks max if they want to deliver an agreement that could be voted on by the current governments.
Wall Street apparently likes Mexican political leader Amlo more than Brazil's former president Lula. The jailing of Brazil's former president Luiz Inacio Lula da Silva this month was not enough to turn Latin America-bound investors onto Brazil.
U.S. executives are setting their sights on Latin America as the region's two largest economies are looking more attractive for mergers and acquisitions, but things could be changing.
Mexico's economy minister, Ildefonso Guajardo, said in a TV interview on Monday that the likelihood of signing a renegotiated pact 'in principle' on the North American Free Trade Agreement is about 80%. ...
President Trump makes immigration controls part of a new NAFTA deal, catching the market sleeping at the wheel.