EM LATAM CREDIT: Mexico: Security Deal with U.S. - Neutral
Aug-27 15:26
(MEX; Baa2neg/BBB/BBB-)
"Rubio to Visit Mexico Soon for Security Deal, Sheinbaum Says" - Bbg
Sheinbaum commented on the U.S. sending of warships to the southern Caribbean off the coast of Venezuela, saying that she believes in the sovereign rights of countries.
The U.S. has suggested possible U.S. military support in fighting drug cartels in Mexico so with a new security deal we will see how much U.S. involvement will be allowed, if any.
MEX 35s were last quoted T+163bp, 15bp tighter QTD and 44bp tighter YTD.
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US DATA: Dallas Mfg Rounds Out Regional Fed Surveys Eyeing Nudge Higher In ISM
Jul-28 15:17
- The Dallas Fed manufacturing index was stronger than expected in July as it increased to 0.9 (cons -9.5) from -12.7 in June.
- It’s a third consecutive increase from the -35.8 in April, at what had been its lowest since Jan’16 outside of Mar-May 2020, and leaves it at the first positive reading since January.
- Within the details, new orders improved but remained in contractionary territory at -3.6 after -7.3.
- Outlook measures broadly improved: “Expectations for manufacturing activity six months from now improved. The future production index rose eight points to 30.3, while the future general business activity index rose five points to 19.0. Most other indexes of future manufacturing activity also increased, though some remain below their average readings.”
- This report rounds out the six regional Fed manufacturing releases for July, with four of the six improving (Empire, Philly, Kansas and Dallas vs Richmond and Chicago softening).
- The average of the six increased to 0.2 from -4.1 in June as it continued a recovery from a recent low of -17.4 in April, for the highest since March.
- This is within the margin for error around consensus currently looking for ISM manufacturing to have ticked up from 49.0 to 49.5 in Friday’s July release. Before then, the MNI Chicago PMI for July will be released on Thursday.
FED: US TSY 2Y AUCTION: NON-COMP BIDS $356 MLN FROM $69.000 BLN TOTAL
Jul-28 15:15
- US TSY 2Y AUCTION: NON-COMP BIDS $356 MLN FROM $69.000 BLN TOTAL
FED: US TSY 26W AUCTION: NON-COMP BIDS $2.051 BLN FROM $73.000 BLN TOTAL
Jul-28 15:15
- US TSY 26W AUCTION: NON-COMP BIDS $2.051 BLN FROM $73.000 BLN TOTAL
