Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Bloomberg Customers

Mexican Peso Bonds Snap Two-Day Slump on U.S. Housing Data

Mexican peso bonds snapped a two-day slump and followed Treasuries higher, pushing yields down, as U.S. data showed sales of previously owned houses unexpectedly fell in Mexico’s biggest export market.

The yield on the peso bonds due in 2024 fell one basis point to 6.56 percent at 3 p.m. in Mexico City, according to data compiled by Bloomberg. The price rose 0.06 centavo to 129.60 centavos per peso.

“It had do in part with the housing data,” said Alejandro Padilla, a debt strategist in Mexico City at Grupo Financiero Banorte-Ixe. “There are going to be more buyers in the market” with yields near 6.60 percent, he said.

Purchases of previously owned U.S. houses dropped 0.9 percent in February to a 4.59 million annual rate from a revised 4.63 million pace in January that was the highest since May 2010, a report from National Association of Realtors showed today in Washington. The median forecast among analysts surveyed by Bloomberg was for a rise to 4.61 million.

The 20-day correlation coefficient between 10-year Treasuries and Mexican bonds rose to 0.54 on March 16, the highest since Sept. 14, according to data compiled by Bloomberg.

The peso fell 0.4 percent to 12.7066 per U.S. dollar, from 12.6502 yesterday. The currency has gained 9.7 percent this year.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.