The 28-day Cetes record a new all-time high

“This seems to indicate that the market does not expect a significant further hike in rates from Banxico,” Intercam said in a report.

After inflation data below what was estimated by analysts in the first half of April, it is expected that Banco de México will pause interest rate increases.

“With the current yield offered by the Cetes rates and with the improvement in the inflation outlook, the demand for the instruments has remained strong,” added Intercam.

What are the yields of the Cetes?

The 28-day Cetes achieved a yield of 11.4% from the previous 11.27%. At 91 days, the Cetes achieved yields of 11.59%.

At six months, the instruments saw a slight decrease in the rate, going from 11.65% to 11.61%.