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May Retail Sales, Sustainable Bonds On Offer

MEXICO
  • Mexico will offer 23 billion pesos in a sustainable bond maturing in May 2035 with an 8% coupon, as well as three floating bonds of one billion pesos each maturing in 2024, 2026 and 2028, respectively.
  • Retail sales are expected to remain in positive territory in May as household incomes and consumption benefit from higher employment and salaries. Consumer sentiment is also a positive and MXN appreciation and slowing inflation provide more upside. Tight monetary conditions and a spending shift from goods into services are headwinds. Data is expected at 1300BST/0800ET:
    • May Retail Sales MoM, est. 0.1%, prior 1.5%
    • May Retail Sales YoY, est. 3.5%, prior 3.8%
    • Banamex Survey of Economists due later in the day.

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