“In our opinion, the appetite for Cetes will remain strong, driven by attractive real rates. These instruments are trading at all-time highs given the prospect of a more restrictive monetary policy in Mexico to curb inflation,” Banorte details in a report.
Since last week, the yields of the Cetes skyrocketed after Banxico gave the surprise and raised the reference rate 50 points to 11%. Analysts had expected the rate to only rise by 25 points.
How much yield do the Cetes give?
This week, the 28-day Cetes recorded a performance of 11.04% from a previous 11.05% while the 91-day Cetes or three months reduced their returns to 11.48% from a previous 11.69%.
The 182 day Cetess achieved yields of 12.07% from a previous 11.76% and the 364-day Cetes reported yields of 12.09%.
