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Rates Snapshot: 2 year Mexican TIIE Swap Rates Rise 17 Bps

LATAM
  • Surging US yields leads local swap rates higher across the board. Notable move in Mexico's TIIE curve with 2-year swap rates jumping 17 basis points and the curve bear flatter, following the marginally more hawkish rhetoric from Deputy Governor Espinosa on Tuesday that Banxico's easing cycle is over in her opinion:
  • Brazil DI Swaps:
    • 2-yr +6 bps at 6.86%
    • 5-yr +8 bps at 8.66%
    • 10-yr +11 bps at 9.48%
  • Mexico TIIE Swaps:
    • 2-yr +17 bps at 5.48%
    • 5-yr +14 bps at 6.36%
    • 10-yr +10 bps at 7.02%
  • Chile Camara Swaps:
    • 2-yr +1 bps at 1.61%
    • 5-yr +2 bps at 2.82%
    • 10-yr +5 bps at 3.78%
  • Colombia IBR Swaps:
    • 2-yr +8 bps at 3.36%
    • 5-yr +10 bps at 4.89%
    • 10-yr +5 bps at 5.91%

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