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Election · 2 June 2024

Mexico elects Claudia Sheinbaum

Claudia Sheinbaum wins the presidency and the ruling coalition nears a two-thirds majority in Congress. Riftrate read 43 the day before and 43 at its highest within 14 days.

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Riftrate the day before43Easing
Within 14 days43 ▼ −0.7Easing
CategoryElectionElections
CountryMexico
Markets around the event · cumulative change, 10 sessions before to 20 after · shaded: normal range of Mexican peso
-10.0%0+10.0%normal rangeevent-10 sessionsday of+20 sessions
Mexican pesoBrent oilSwiss francUS dollar
MarketNext sessionAfter 5 sessionsAfter 20 sessionsHow unusual
Mexican peso-3.3%-7.0%-7.6%bigger than 100% of 5-day moves
Brent oil-3.7%-1.6%+9.9%bigger than 27% of 5-day moves
US 10-year yield-0.10 pt-0.08 pt-0.03 ptbigger than 41% of 5-day moves
US dollar+0.2%+1.2%+1.9%bigger than 90% of 5-day moves
Swiss franc+0.9%+0.8%-0.1%bigger than 58% of 5-day moves
Japanese yen+0.7%+0.4%-2.7%bigger than 28% of 5-day moves

Correlation or cause? A market that moves on the day of an event is not proof that the event moved it. “How unusual” compares the move with every 5-day move of the previous three years: above 95%, the move stands out from normal noise. Read it with the news of the day, and see how to tell correlation from causation. Not investment advice.

Riftrate · 60 days before and after
0255075100MayJunJulAugMexico elects Claudia Sheinbaum, 2 June 2024

Source for the event: en.wikipedia.org. Market data: FRED, Federal Reserve Bank of St. Louis.

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