A presidential vote in Mexico with a hair-thin margin between the two leading candidates could degenerate into a 2000 Florida-style showdown. That's a development that no one in the capital markets wants, not least because the hair-thin advantage as of press time belonged to Felipe Calderon, the center-right candidate of the ruling PAN party.

Yet despite the political limbo this would spell for Mexico, a calm wait-and-see attitude appeared to prevail last week among players in the securitization market.

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