Mexico’s opposition lawmakers blocked a bill initiative presented by President AMLO to increase the dominance of state utility Comision Federal de Electricidad (CFE) in the domestic power market. While a majority of lawmakers in the lower house voted in favor, the overall votes fell short of the two-thirds majority it needed. Analysts note that the move would have weakened the private sector’s role and eroded environmental protection policies, whilst giving the government the say over power generation. AMLO had initially argued that his move would have made Mexico more energy independent and called the vote as “treason”.

CFE’s dollar bonds were stable with its 5.75% 2042s at 91.63, yielding 6.5%.

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