Strong Peso - Lower Mexican Rates

The yield on Mexico’s benchmark peso bonds due in 2024 fell 61 basis points, or 0.61 percentage point, from a one-year high on March 3 to 7.39 percent. Brazil’s real-denominated bonds due in 2021 yield 12.5 percent, down 20 basis points during the period. Foreign investors withdrew a net $372 million from Brazil’s bond market in the first quarter after the government tripled taxes on bond investors last year to curb an advance in the real.