MEXICO: Yet to Hear Details on Trade Talks Progress with US

Nov-27 15:32
  • President Sheinbaum has yet to confirm whether she will attend the football world cup draw, waiting to hear on whether the other North American leaders attend. However, Sheinbaum has said that, if possible, there could be a meeting with President Trump.
  • It has been reported that Mexico was working to conclude the current stage of trade talks with the US this month, Economy Minister Marcelo Ebrard recently said in an interview. Ebrard said that we would probably travel to DC to conduct those negotiations, however, given that rade talks between the US and Canada remain stalled, the hopes of any imminent announcement on significant progress may be fading.
  • Sure enough, there’s an emerging belief in both the US & Canada governments that key issues will be rolled into next year’s broader review of the USMCA.
  • As a reminder, it could be tariff policy towards China that garners more attention in Mexico, as Sheinbaum’s initial plan to impose sizeable tariffs on Chinese imports has been delayed until at least December.  This came amid rising opposition from Mexico’s private sector and Morena members, which has stalled congressional debate.

Historical bullets

FED: US TSY 52W BILL AUCTION: HIGH 3.445%(ALLOT 42.51%)

Oct-28 15:32
  • US TSY 52W BILL AUCTION: HIGH 3.445%(ALLOT 42.51%)
  • US TSY 52W BILL AUCTION: DEALERS TAKE 42.14% OF COMPETITIVES
  • US TSY 52W BILL AUCTION: DIRECTS TAKE 4.40% OF COMPETITIVES
  • US TSY 52W BILL AUCTION: INDIRECTS TAKE 53.47% OF COMPETITIVES
  • US TSY 52W AUCTION: BID/CVR 3.21

GILT AUCTION PREVIEW: On offer next week

Oct-28 15:31

The DMO has announced it will be looking to sell GBP5.0bln of the 4.00% May-29 Gilt (ISIN: GB00BVP99566) at its auction next Tuesday, November 4.

FED: US TSY 52W AUCTION: NON-COMP BIDS $825 MLN FROM $50.000 BLN TOTAL

Oct-28 15:15
  • US TSY 52W AUCTION: NON-COMP BIDS $825 MLN FROM $50.000 BLN TOTAL