Antonio Garza

"Business... has generally navigated around the security concerns pretty well... Cartels have not historically tried to disrupt movement so much as just the day to day... corruption." + "It suggests a level of commitment from this administration that is the most significant directionally that we have seen in almost a decade." While headlines are scary (blockades), the structural "nearshoring" thesis remains intact. Manufacturing supply chains are hardened against this specific type of risk. Furthermore, the Sheinbaum administration's pivot to "real-time" intel sharing with the US is a long-term bullish signal for Mexican stability and the Peso, making any panic-selling a buying opportunity for Mexican assets. LONG Mexican manufacturing and broad equity exposure (EWW) as the security cooperation improves the long-term risk premium. If the "succession battle" spills over into direct attacks on infrastructure or ports (specifically the western port mentioned), trade flows could actually stop.

"Business... has generally navigated around the security concerns pretty well... Cartels have not historically tried to disrupt movement so much as just the day to day... corruption." + "It suggests a level of commitment from this administration that is the most significant directionally that we have seen in almost a decade." While headlines are scary (blockades), the structural "nearshoring" thesis remains intact. Manufacturing supply chains are hardened against this specific type of risk. Furthermore, the Sheinbaum administration's pivot to "real-time" intel sharing with the US is a long-term bullish signal for Mexican stability and the Peso, making any panic-selling a buying opportunity for Mexican assets. LONG Mexican manufacturing and broad equity exposure (EWW) as the security cooperation improves the long-term risk premium. If the "succession battle" spills over into direct attacks on infrastructure or ports (specifically the western port mentioned), trade flows could actually stop.

"Business... has generally navigated around the security concerns pretty well... Cartels have not historically tried to disrupt movement so much as just the day to day... corruption." + "It suggests a level of commitment from this administration that is the most significant directionally that we have seen in almost a decade." While headlines are scary (blockades), the structural "nearshoring" thesis remains intact. Manufacturing supply chains are hardened against this specific type of risk. Furthermore, the Sheinbaum administration's pivot to "real-time" intel sharing with the US is a long-term bullish signal for Mexican stability and the Peso, making any panic-selling a buying opportunity for Mexican assets. LONG Mexican manufacturing and broad equity exposure (EWW) as the security cooperation improves the long-term risk premium. If the "succession battle" spills over into direct attacks on infrastructure or ports (specifically the western port mentioned), trade flows could actually stop.

"Business... has generally navigated around the security concerns pretty well... Cartels have not historically tried to disrupt movement so much as just the day to day... corruption." + "It suggests a level of commitment from this administration that is the most significant directionally that we have seen in almost a decade." While headlines are scary (blockades), the structural "nearshoring" thesis remains intact. Manufacturing supply chains are hardened against this specific type of risk. Furthermore, the Sheinbaum administration's pivot to "real-time" intel sharing with the US is a long-term bullish signal for Mexican stability and the Peso, making any panic-selling a buying opportunity for Mexican assets. LONG Mexican manufacturing and broad equity exposure (EWW) as the security cooperation improves the long-term risk premium. If the "succession battle" spills over into direct attacks on infrastructure or ports (specifically the western port mentioned), trade flows could actually stop.