This number combined with the other high numbers is going to force the government to keep interest rates high and make sure the budget is austere for the next year. High rates are bad news for equity holders.
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The market is taking it positively, it's rallying since this number came in.Damian Fraser
We believe Mexico's stock market is significantly undervalued, and it remains our top pick in the region, with our overweight in our model portfolio at 4.4 percentage points.
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