MNI BRIEF: Fed Risks Soft Landing If It Doesn’t Cut - Goolsbee

MNI BRIEF: EU Parliament Backs Von Der Leyen For 2nd Term

MNI: ECB LEAVES KEY DEPOSIT RATE UNCHANGED AT 3.75%

MNI China Daily Summary: Thursday, July 18

MNI BRIEF: China To Upgrade Rural Land Reform: 3rd Plenum

MNI BRIEF: China's Third Plenum Eye's Deeper Financial Reform

MNI: FED BALANCE SHEET TOTAL ASSETS -$16B TO $7.208T IN WEEK

MNI: US TSY TICS NET FLOWS IN MAY +$15.8B

US Treasury Auction Calendar

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USDMXN Rises To Fresh Weekly High, TIIE Swap Rates Decline

MEXICO
  • Following the weaker-than-expected bi-weekly CPI data earlier, we are seeing a meaningful move lower in the TIIE swaps curve, with yields 6-9bp lower across the curve. USDMXN is also moving higher, edging above 17.10 to its highest since Feb 14 in recent trade, alongside the recovery in the greenback.
  • CPI inflation fell to 4.45% y/y in the first half of February, down from 4.87% previously and below the 4.7% consensus, driven by a decline in non-core food prices. Core inflation also moderated to 4.63%, from 4.75%, also below expectations. With price pressures continuing to ease and Banxico having adopted a more dovish stance at its Feb 8 MPC meeting, the market is now pricing a growing likelihood of a first cut at the March 21 policy meeting.
  • Mexico TIIE Swaps:
    • 1-yr -7 bps at 10.70%
    • 2-yr -9 bps at 9.66%
    • 5-yr -6 bps at 8.66%
    • 10-yr -6 bps at 8.63%
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.