Mexico’s peso bonds fell for a fifth session, the longest streak of losses in five months, as signs that U.S. growth is faltering dimmed the outlook for the Latin American country’s exports.
The price of peso bonds due in 2024 fell 0.11 centavo to 128.81 centavos per peso today in Mexico City. The yield rose one basis point, or 0.01 percentage point, to 6.29 percent. The peso weakened 0.2 percent to 13.1163 per dollar.
The number of Americans filing applications for unemployment benefits rose more than forecast last week, while the Institute for Supply Management’s U.S. services index advanced less than analysts estimated in March. Mexico sends about 80 percent of its exports to the U.S.
“The economic data published up until now have been a little disappointing,” Grupo Financiero Banorte SAB strategist Alejandro Padilla wrote in an e-mailed research note today.