Mexico T-bill yields seen flat at weekly auction
The yield on Mexicos benchmark one-month T-bills, or Cetes, was expected to remain flat on Tuesday as investors expect the central bank to hold interest rates steady at a meeting this week.
Yields on three- and six-month Cetes were also expected to be nearly unchanged while the 5-year bond yield was expected to decline at the central banks weekly auction, according to a Reuters poll.
Mexicos central bank is seen keeping rates untouched when it meets on Friday, although some analysts believe it will resume cutting rates later in the year.
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Mexico 28-day yield seen rising at weekly auction
The yield on Mexicos benchmark one-month T-bills was expected to rise on Tuesday as investors rattled by recent peso volatility struggled to predict the U.S. Federal Reserves next monetary policy move.
Yields on three- and six-month T-bills, or Cetes, were also seen rising, but the yield on the governments 10-year peso bond was expected to change little from the last time it was auctioned on Aug. 15. according to a Reuters poll.
Following is a table comparing previous rates at the central banks primary auction with expectations for this weeks sale and the expected change
Mexico 28-day T-bill yield tumbles to 8.14 percent
The yield on Mexico's benchmark 28-day Cetes, or T-bills, tumbled 28 basis points to 8.14 percent on Tuesday as markets reacted to a sharp central bank interest rate cut last week aimed at boosting growth.
Longer-term rates also fell at the central bank auction.
The yield on 91-day Cetes dropped to 8.12 percent from 8.38 at last week's auction, while the 175-day yield fell to 8.13 percent from 8.34 percent.
Further along the yield curve, the 5-year peso-denominated bond fell to 7.88 percent from 8.36 percent when it was last auctioned on Nov. 15.
The market
Mexico 1-month T-bill yield rises to 7.02 pct
The yield on Mexicos benchmark 28-day Cetes, or T-bills, edged up 1 basis point to 7.02 percent on Tuesday amid expectations of rising U.S. interest rates.
Longer-term Cetes yields ticked up from last week at a central bank auction, along with rates on Mexicos 3-year and 7-year peso from when they were last auctioned on May 16.
The yield on the three-month bill rose to 7.36 percent from 7.28 percent last week, while the yield on the six-month yield rose to 7.63 percent from 7.50 percent.
The 3-year peso bond rose to a yield of 8.50
Mexico stocks hit record high, T-bill yields tumble
Mexican stocks rose to a record high close on Tuesday, driven by telecoms and retailer Wal-Mart de Mexico, while the peso recovered some recently lost ground and T-bill yields tumbled.
The IPC leading index jumped 1.51 percent to end at 17,819.68 points, bringing its return this year to about 38 percent.
Carso Telecom (TELECOMA1.MX: Quote, Profile, Research), the holding company through which billionaire Carlos Slim controls fixed-line operator Telmex (TELMEXL.MX: Quote, Profile, Research) (TMX.N: Quote, Profile, Research), rallied 3.17 percent to 24.76 pesos.
Cellphone operator America Movil (AMXL.MX: Quote, Profile, Research), also controlled by Slim,
Project Mexico auction planned for Wednesday
Project Mexico will be holding its annual auction tomorrow, from 4 p.m. to 8 p.m. in McGuire Hall, with all proceeds going to fund the Project Mexico team's trip to Tijuana in January. The goal for the team is to go and serve communities in Mexico, but also to bring the spirit of Mexico back with them.
With 240 items this year, Project Mexico is auctioning off the largest amount of items ever. Items students have come to expect at the auction such as a car raffle and puppy will be there, as well as
UPDATE 1-Mexico 28-day T-bill yield edges down to 7.98 pct
The yield on Mexico's benchmark Cetes, or T-bills, edged down for the 23rd straight week on Tuesday amid investor expectations that the central bank will push interest rates lower again this month.
The rate on 28-day paper fell four basis points to 7.98 percent while the rates on three-month and six-month paper also fell.
An earlier Reuters survey of Cetes dealers had forecast the 28-day Cetes rate would fall two basis points to 8.00 percent while longer-term T-bill yields would fall slightly or hold steady.
The yield on the 10-year peso denominated bond
Mexico's Bonds Have `Value' After Yields Climb, ABN Amro Says
Mexico's peso-denominated bonds may rebound after yields on the 10-year security rose 42 basis points since March 1, said Siobhan Manning-Morden, director of Latin American strategy at ABN Amro Inc.
Bond yields, which move in the opposite direction from prices, climbed this month on concern rising interest rates in the U.S. and other industrial countries will lure investors away from emerging markets. Manning-Morden says investors should hold onto Mexican peso bonds because the difference between long-term yields on U.S. and Mexican debt is still wide enough.
``I don't think it's
UPDATE 1-Mexico 28-day T-bill yield falls to 7.92 pct
The yield on Mexico's benchmark 28-day Cetes, or T-bills, dropped six basis points to 7.92 percent on Tuesday as investors saw the central bank cutting interest rates further despite an uptick in inflation.
The rate on 90-day Cetes fell 12 basis points to 7.84 percent while the yield on six-month paper dropped 11 basis points to 7.77 percent.
An earlier Reuters survey of Cetes dealers had predicted the 28-day Cetes rate would fall eight basis points to 7.90 percent and that longer-term T-bill yields would also fall.
The yield on the 5-year peso-denominated bond
UPDATE 1-Mexico 28-day T-bill yield falls to 9.36 pct
The yield on Mexico's benchmark 28-day Cetes, or T-bills, shed 6 basis points to 9.36 percent on Tuesday, as investors bet the central bank will push down its key interest rate over the next few months.
Longer-term rates also fell at the central bank auction.
The decline in short-term interest rates was slightly bigger than market expectations. A Reuters survey of Cetes dealers had forecast the rate on the benchmark one-month paper would edge down 3 basis points to 9.39 percent.
Following signs of a strong improvement in inflation, Mexico's central bank pushed interest rates
Reuters Summit-Mexico's Pemex sees output flat to 2007
Mexican state oil monopoly Pemex sees crude oil production staying roughly flat this year and next, Chief Financial Officer Juan Jose Suarez said Friday.
Suarez said he saw Pemex's 2007 crude oil output averaging 3.45 million barrels per day, up only a whisker from estimated average production of 3.42 million bpd this year.
"It should be around 3.45 million," he told the Reuters Latin America Investment Summit in Mexico City.
Pemex, one of the top three suppliers of crude oil to the United States, saw its oil production dip to 3.33 million bpd in 2005, partly
