The decision by Mexican president-elect Andrés Manuel López Obrador (Amlo) to cancel the Texcoco airport construction spooked local markets, and upcoming decisions on the 2019 budget and oil field sales should give a clearer sign of whether he will tack further towards populism. Elsewhere, this week brought yet more mixed messages on the prospects for pension reform in Brazil, which may be an early sign of the hurdles president-elect Jair Bolsonaro will face in pushing reforms though congress.
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