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COMMODITIES

Is The Rally on Copper Over?

EGB OPTIONS

Bund July Call Buyer

GILT AUCTION RESULTS

DMO sells GBP2bln of the 1.25% Jul-51 Gilt

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  • Banxico may have to hike rates before Fed (BBG)
  • Economic recovery requires changes to monetary policy (BBG)
  • Asked in an interview with Bloomberg News if she thought further monetary easing is off the table, Deputy central bank Governor Irene Espinosa said, "Yes, I think so, definitely in this context."
  • For reference, it has been suggested that Espinosa may be a slight leaning hawk, having voiced concerns over domestic core inflation pressures as well as increasing global inflation expectations. The slightly more dovish members being AMLO appointees, Jonathan Heath and Gerardo Esquivel, given their rhetoric over the previous months and relating to split decisions over whether to cut rates.
    • The minutes from Banxico's May meeting will be published on 27th May.