Tensions in Ukraine push peso back; advance in the stock market.

 The peso was trading at 20.52 per dollar near the end of the session; meanwhile, the benchmark local stock index S&P/BMV IPC rose 1.20%.

Reuters.- The peso erased gains this afternoon after warnings from the White House of an imminent Russian invasion of Ukraine, while the stock market advanced at the end of a week marked by inflation data from the United States and Mexico as well as an aggressive increase in prices. the local benchmark interest rate.

The peso closes at 20.52 per dollar unit

The benchmark local stock index S&P/BMV IPC rose 1.20% to 53,229.26 points with a volume of 188.4 million shares traded.

The stock market posted a weekly cumulative gain of 3.85%, the steepest since the first week of January. The weekly advance of the peso was 0.68%

US consumer price data for January beat expectations on Thursday, bolstering bets that the Federal Reserve will raise the cost of credit several times this year starting in March.

On the other hand, Banco de México (Banxico) raised the key rate by 50 basis points, to 6%, as expected by the vast majority of the market, and revised its inflation projections upwards.

In the debt market, the 10-year bond yield was trading at 7.77%, while the 20-year rate was at 8.10%.

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