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Mexican bonds are another investment strategists like as they are trading around their lowest levels in nearly decade.

The 10-year Mexican yield broke above 9 percent for the first time since the financial crisis in late November. On Tuesday, the benchmark yield traded around 8.50 percent.

“Mexican bonds are under-loved and pricing in the worst-case scenario,” said Amr Abdel Khalek, emerging markets strategist at MRB Partners. “We don’t see peso bonds as the strongest outperformer in a universe of EM local-currency denominated bonds, but the combination of peso undervaluation and the relatively rich yields mean that they can outperform the benchmark on a 6-12 month basis.”

Investors are fretting over some of President Andres Manuel Lopez Obrador’s fiscal measures, including pulling the plug on a partially built $13 new airport in Mexico City. Lopez Obrador, better known by his initials AMLO, also said last week he would announce measures supportive of Pemex, a giant state-run oil company.

AMLO did not provide specifics in his comments from last Tuesday, however, leaving investors worried about how sweeping his proposals could actually be. AMLO’s comments came after ratings agency Fitch cut Pemex’s rating to BBB-, the lowest investment-grade rating, from BBB+.

Still, Pictet Asset Management’s Paolini thinks Mexican bonds remain attractive given their valuations. “If you’re looking at Mexican bonds, unless you’re expecting something bad happening on the political front, there is some real value there.”

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Microsoft, Facebook, Google staff offer support to Chinese coders



Some Microsoft employees have used their company’s own platform to support Chinese tech workers who are expected to carry out 12-hour workdays with just one day off a week.

In March, tech workers in China first published the “” project, aimed at highlighting the sector’s “grueling and illegal” work schedule. 996 stands for 9 a.m. to 9 p.m., six days a week, while the ICU refers to the possibility of ending up in the intensive care unit of a hospital due to exhaustion.

The project is a collection, or repository, of alleged evidence of long hours and wrongful working conditions.

Despite such long hours being officially illegal in China, Alibaba founder Jack Ma has previously hailed the 996 culture as a “huge blessing” for the country. However, it seems his appetite for extended work is now being met with resistance from outside China.

On Monday, software engineers from Microsoft, Google, Facebook and others signed a letter of support for Chinese workers. The online letter was added to the project on the web-based code-sharing service, GitHub.

The letter, co-signed by 100 tech workers, says that the workers of Microsoft and GitHub “stand in solidarity with tech workers in China.” It also warned that Chinese internet firms are already attempting to censor the protest.

“Since going viral, Chinese domestic browsers, such as those by Tencent and Alibaba, have restricted access to the repository on their web browsers, warning users that the repository contains illegal or malicious content.” Spokespersons for Tencent and Alibaba were not immediately available for comment when contacted by CNBC.

Microsoft bought GitHub in 2018 for a reported $7.5 billion and the employees call on the two firms not to remove the content.

“We must entertain the possibility that Microsoft and GitHub will be pressured to remove the repository as well,” it read. A spokesperson for the Washington-based firm also wasn’t immediately available when contacted by CNBC.

As a sign of wide support, has been “starred” by GitHub readers more than 230,000 times, making it one of the most popular repositories in the site’s history.

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New tech in UK prisons can pinpoint illegal phones to an ‘exact cell’



The U.K.’s Ministry of Justice has started to use “specialist mobile detection technology” to find and then seize phones that are being used illegally by prisoners.

The technology is being used to tackle the problem of mobile phone smuggling, which authorities said resulted in both violence and drug-dealing inside prisons.

When it detects the presence of a cell phone in prison, the technology sends real-time alerts. A digital heat map is used to identify the strength of the phone’s signal, enabling prison officers to home in on its location “to the exact cell.”

Prison staff are able to look at the data of a specific period of time to monitor the emergence of any patterns, such as when prisoners work together to smuggle drugs into a prison. The intelligence can be analysed and lead to arrests.

The technology has undergone a six-month trial in one prison and is being rolled out to four more facilities. The locations of where it’s being used have not been made public.

“As criminals look for new ways to smuggle contraband into prisons, it is vital that we stay one step ahead, and this kind of technology will help prevent them operating from their cells,” David Gauke, the U.K.’s justice secretary, said in a statement Sunday.

“This is vital to ensuring prisons are places of safety and rehabilitation, where offenders can turn their backs on crime for good,” Gauke added.

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Ukraine faces up to reality after political novice wins landslide



With his background in comedy and acting, Zelensky knows how to woo an audience and the 41-year-old has certainly used social media to good effect in his election campaigning. This has enabled him to attract young voters who are disaffected with the political establishment in Ukraine.

Older voters too are fed up at a lack of progress on tackling corruption, analysts note, and they view Zelensky, different from the norm with his informal approach, as a breath of fresh air.

Introducing himself on his website, Zelensky (or “Ze” as he is known) said his goal is to “make people happier in Ukraine. I want to see joyful faces around.” A pre-election program on his website, while lacking specifics, also gives clues on what we could see from Zelensky now he’s president-elect.

Suggesting a digital push, Zelensky’s program states that he wants to see a Ukraine “where you can open an business in an hour, get a passport in 15 minutes, and vote in elections — in one second, on the Internet.”

The comedian also alludes to wanting to boost employment, provide housing for young families, tackle corruption and nepotism, and improve wages and pensions.

His first task as president would be to empower the people through referendums “and other forms of direct democracy,” he notes. He adds that he wants to improve justice and equality in Ukraine and has gone so far that he wants to remove parliamentary immunity from prosecution and would reform the judicial system.

Despite critics saying that Zelensky’s plans could prove tricky, it’s been noted that he has surrounded himself with experienced advisors who are now expected to take ministerial posts.

Last week, former Finance Minister Oleksandr Danyliuk (who could be in the running for the post of foreign minister) said that if Zelensky won the election, his team will not include officials or ministers from Poroshenko’s administration, signaling a clear break from the past.

Zelensky has promised to break the power of oligarchs in Ukraine. But his own relationship with self-exiled, controversial oligarch Ihor Kolomoisky, who owns the TV channel that Zelensky’s productions are broadcast on, has also come under scrutiny. For his part, Zelensky said last week that anyone who breaks the laws, including Kolomoisky, would be put behind bars.

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