Aurora Macro Strategies

Aurora Public Debt Report: A Pemex Contagion Primer

August 6, 2026

Public DebtLatin America

Pemex stress is no longer just a corporate-credit problem, with contagion channels now running through Mexico's sovereign balance sheet and investor assumptions about state support. Aurora lays out where the risks could spread and why the market may be underestimating the fiscal linkages.

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Aurora Public Debt Report: A Pemex Contagion Primer