Mexico Achieves 8.08% Yield On 10-Year Benchmark Bond

Mexico achieved a yield of 8.08% on its 10-year benchmark peso bond issue when it sold a further $286 million of the securities at auction yesterday, Tuesday. The yield achieved by the Sovereign on the fixed-rate peso bonds, which mature in December 2015, is lower than that achieved last month when it sold the bond to yield 8.69% and the lowest yield since the end of February. The lower cost of the debt reflects investors’ confidence in the country’s stability and the almost certain presidential win by Felipe Calderón of the ruling PAN party.