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Local Assets Climb On Supportive External Sentiment

MEXICO
  • Mexican Peso continues firm price action up 0.42%. USDMXN taking out most recent lows at 20.0650 and trading at lowest level since February 16th. A vacant domestic calendar has seen the Peso react to a supportive external environment with U.S. equities rising to a fresh record high, commodity prices advancing and most Latam FX peers higher on the day. In line with Peso gains, the TIIE curve is bull flatter, reversing yesterday's bear steepening:
  • Mexico TIIE Swaps:
    • 1-yr -3 bps at 4.55%
    • 2-yr -5 bps at 4.94%
    • 5-yr -6 bps at 5.89%
    • 10-yr -7 bps at 6.70%

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