Bloomberg News

Mexican Peso Bonds Little Changed After U.S. Economic Data

December 29, 2011

Dec. 29 (Bloomberg) -- Mexico’s benchmark local bonds were little changed, erasing earlier gains posted after reports showing growth in the U.S. economy bolstered optimism for the country’s exports

The yield on the peso-denominated bonds due in 2024 rose one basis point, or 0.01 percentage point, to 6.65 percent at the close in Mexico City, according to data compiled by Bloomberg. The price of the bonds fell 0.09 centavo to 129.06 centavos per peso.

The four-week moving average for U.S. jobless claims, a less volatile measure than the weekly figures, dropped to 375,000 last week, the lowest level since June 2008, Labor Department data showed. The index of pending U.S. home sales increased 7.3 percent to the highest level since April 2010, the National Association of Realtors said. The U.S. consumes about 80 percent of Mexico’s exports.

The peso declined 0.1 percent to 13.9966 per U.S. dollar. The currency’s 11.8 percent drop in 2011 is the most among Latin America’s currencies according to data compiled by Bloomberg.

--Editors: Marie-France Han, Brendan Walsh, Jonathan Roeder

To contact the reporter on this story: Ben Bain in New York at bbain2@bloomberg.net; Ye Xie in New York at yxie6@bloomberg.net;

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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