Biggest Rally in Two Years Means Sell for Silva: Mexico Credit
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The biggest rally in Mexican peso bonds in two years is a sign to Barclays Plc and Silva Capital Management LLC to sell the debt on a bet the notes will slump as global investor demand for the safest assets wanes.
Yields on Mexico’s benchmark peso bonds dropped 45 basis points in the past week, the most since March 2009, to 6.56 percent yesterday, according to data compiled by Bloomberg. The average yield on emerging-market local-currency debt was little changed during the same period at 6.22 percent, according to Bank of America Merrill Lynch.