📝Mexico's Morena Party Waver Over Sheinbaum: UBS

Claudia Sheinbaum is the favourite to become Morena's candidate in Mexico's presidential race in 2024 but her national approval rating has fall sharply recently, down 5pp to 41%, according to a poll for EI Fier. Sheinbaum is head of the Mexico City government and she's been deeply criticized for her management of the subway system. It remains to be seen whether President Andres Manuel Lopez Obrador (AMLO) and Morena will switch candidates if her popularity continues to weaken. AMLO has said the polls will determine who will represent Morena, but it is unclear he would back Foreign Minister Marcelo Ebrard if he starts to outpace Sheinbaum in the polls as the preferred Morena candidate. Ebrard is on 38% approval rating, up 2pp. - UBS Strategy