The prospect of a Morena-led supermajority in Mexico’s congress following Sunday’s election could allow Amlo's proposed constitutional amendments to see the light of day, weakening Mexico’s institutions and entrenching looser fiscal policy and higher inflation. The key risk comes in September when the new congress will sit but before Claudia Sheinbaum is sworn in as president. Elsewhere, Q1 GDP figures from Brazil showed that the economy made a decent start to the year, but a closer look at the data provides less cause for optimism.
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