The returns of the Certificates from the Federation Treasury (Cetes) showed mixed behavior in the weekly Bank of Mexico auction given the expectation that the central bank will cut the national reference rate by 25 basis points this Thursday.
The interest rate of Cete 28 days It stood at 7.30%, an increase of 20 basis points. The amount placed was 7,000 million pesos, and the demand for this instrument was 2.26 times what was offered, lower than the previous auction.
According to the Banxico expectations survey, analysts predict that the 28-day Cete yield will close 2025 at a level of 7.05 percent.
Additionally, 9,700 million pesos were placed in Cetes at 91 dayswith a rate of 7.23%, remaining unchanged compared to the last issue, and a demand 3.16 times the amount placed.
For its part, the 175-day Cetes were placed for 13,000 million pesos, at a rate of 7.29%, a reduction of 0.10% compared to the previous auction. This instrument registered a demand of 3.46 times the amount placed, greater than the last placement.
Finally, 15,000 million pesos were auctioned in Cetes at 721 dayswith a rate of 7.77%, a marginal reduction of 0.01% compared to the last issue. The demand for this instrument reached 2.29 times the amount placed.
The market practically takes for granted that, at its monetary policy meeting this Thursday, the Governing Board of the Bank of Mexico will reduce the reference rate by a quarter point, to place it at 7.25 percent.
