Record $21 Billion Pouring Into Bond Market: Mexico Credit

A rally in the Mexican peso and inflation near a five-year low are luring a record amount of foreign investment into the country’s bond market.

International investors bought $21 billion of Mexican debt denominated in pesos in the six months through March, the most since the central bank began compiling the data in the 1960s. Local debt returned 10.3 percent this year in dollar terms, compared with gains of 9.9 percent in Brazil and 3.5 percent in China, according to Bank of America Merrill Lynch indexes. Indian bonds returned 0.6 percent during the period.