Investors panicked after Mexico’s election. Were they right?

In other postcodes fear, not optimism, is palpable. Pedro (not his real name) was tidying his cake shop on the outskirts of Mexico City last year when gunmen burst in. Pressing a pistol to his head, they told him to pay 50,000 pesos ($2,600) every month or they would kill his children. “They had their names,” he recalls with horror. He quickly closed the shop. “It won’t change with Claudia,” he sighs, referring to Claudia Sheinbaum, who will become Mexico’s president on October 1st.