Mexico’s peso bonds fell, following Treasuries lower and pushing the Latin American nation’s yields to a three-week high, as better-than-forecast U.S. industrial output reduced demand for assets seen as a refuge.Yields on Mexico’s peso bonds due in 2024 rose three basis points, or 0.03 percentage point, to 5.45 percent at 4 p.m. in Mexico City, the highest close basis since Sept. 21, according to data compiled by Bloomberg. The price fell 0.31 centavo to 140.45 centavos per peso. The currency depreciated 0.2 percent to 12.8337 per dollar after touching a one-week intraday high of 12.7702.Demand for Treasuries and Mexican bonds is declining after data showed “the U.S. numbers are slightly better,” Dirk Willer, the head of Latin American local markets strategy at Citigroup Inc., said by phone from New York. “In general, the U.S. growth data have been surprising on the positive side for a long time.”via Mexico Yields Rise to Three-Week High on Reduced Refuge Demand – Bloomberg.
About The Author
September 24, 2014
January 14, 2013
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- It’s Time To Reset U.S.-Mexico Relations – John M. Ackerman – POLITICO Magazine