Foreign Investors Return to Mexico in Positive Shift on President

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The percentage of peso-denominated Mexican sovereign debt held by foreigners jumped 2 percentage points in December to 61.7 percent, the highest since August, data from Mexico’s central bank show. Banxico’s numbers cover the period up to the Christmas holiday. The peso gained 3.5 percent and the yield on the benchmark dollar sovereign bond shed 14.6 basis points during the same period.

“Levels became very attractive and a more constructive and disciplined budget attracted buyers back,” said Jens Nystedt, a senior portfolio manager at EMSO Asset Management in New York. “I would expect continued strength as long as the government delivers on the disciplined budget and developed market yields remain constrained.”
Source: Bloomberg
The Mazatlan Post

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