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Continued Bear Steepening In Local Swaps Curve

MEXICO

Mexico TIIE Swaps Today:

  • 2-yr +5 bps at 4.37%
  • 5-yr +8.5 bps at 5.27%
  • 10-yr +12.5 bps at 6.19%

The chart below indicates the extent of the bear steepening move this year where yields in the longer end of the curve have shifted around 80 basis points higher. The front-end remains fairly anchored as Banxico cut rates earlier this month, potentially resuming their easing cycle.


MNI/Bloomberg

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