“The instruments present rates higher than 11%, this indicates that investors continue to expect further increases in interest rates by the central bank in the coming months,” Intercam said in a report.
Six-month Cetes were unchanged, with a rate of return of 11.16% while three-month Cetes saw yields decline to 11.01% from 11.06% previously.
How much do yield Cetes give?
“The sixth auction of government securities (of the year) presented marginal adjustments in the yields of the Cetes. This week an increase of 25 base points is expected at the reference rate, reaching a level of 10.75%,” added Intercam.
Banco de México will publish its monetary policy decision this Thursday at 1:00 p.m. The announcement – which is expected to follow the Fed – will attract the attention of analysts to see the position taken by the next deputy governor Omar Mejía Castelazo.
Since 2021, Banxico has raised the rate by 650 basis points as inflation reached levels not seen in two decades and surpassed the target of 3% plus/minus one percentage point.
