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TIIE Swaps Curve Bull Flattens Post-CPI & Banxico Minutes

  • Mexico TIIE Swaps pull lower across the curve with bull flattening bias post-CPI & Banxico minutes.
  • Follows confirmation of a unanimous hold by the Banxico MPC on a spike in CPI to above-target levels.
  • However, MPC alluded to more potential easing in the pipeline should inflation moderate into year-end in line with expectations.

TIIE Swaps:

  • 1-yr -5 bps at 4.51%
  • 2-yr -8 bps at 4.88%
  • 5-yr -12 bps at 5.71%
  • 10-yr -13 bps at 6.52%
  • 32-yr -12.5 bps at 7.3%
MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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