Global Markets
MEXICAN STOCKS
Mexican stocks soared for the fifth day, climbing to their highest level in two months, as interest rates fell for the first time in nine weeks and the peso strengthened. For the last three sessions, the Bolsa index is up 12% in peso terms and almost 9% in dollar terms.
Helping to boost stocks was Tuesday’s decline in benchmark one-month interest rates. Yields on 28-day Mexican treasury bills, which determine the country’s consumer and corporate borrowing costs, fell for the first time in nine weeks to 54.74%, indicating that traders may believe the peso’s slide against the dollar has bottomed out.
The Bolsa Index: Wednesday closes
Nov. 1995: 2,534.69
Source: Bloomberg Business News
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