墨西哥10年期国债 (Mexico10Y) 加自选

墨西哥比索兑美元汇率超过18.4，为2024年7月以来的最高水平，原因是美元走弱，墨西哥宏观基本面保持不变，增加了以比索计价的资产的吸引力。美元触及自7月底以来的最低水平，市场等待美联储的政策决定，并在数据显示劳动力市场降温后，预计将降息25个基点，但有50个基点的可能性很小。与此同时，墨西哥银行（Banco de México）一直保持紧缩政策，并表示即使在通胀放缓的情况下也会谨慎调整。与同行相比，实际利率差异更大，远期市场对结转的持续需求，以及墨西哥与美国的密切贸易联系，都支持了对当地票据的需求，限制了资本外流。

The Mexican peso strengthened past 18.4 per US dollar, the strongest level since July 2024 as the US dollar weakened and Mexico’s macro fundamentals held up, increasing the appeal of peso-denominated assets. The dollar hit its weakest level since late July as markets awaited the Federal Reserve’s policy decision and priced in a 25 basis point cut with a small chance of a 50 basis point move after data showed a cooling labour market. At the same time Banco de México has kept policy tight and signalled careful calibration even as inflation moderates. Higher real interest differentials relative to peers, sustained demand for carry in forward markets, and Mexico’s close trade links with the United States have all supported demand for local paper, limiting capital outflows.

墨西哥总统克劳迪娅·谢恩鲍姆表示，官员们本周将与中国代表会面，讨论墨西哥计划征收的关税，并强调这些关税不是强制性的。这些关税影响了来自与墨西哥没有贸易协定的国家的数百种商品，尤其是中国汽车，旨在促进国内生产。Sheinbaum强调，“我们与中国有着非常好的关系，我们希望继续与他们保持良好的关系”，并声称这些措施不是针对任何特定国家的。中国上周批评了这一举动，警告称这可能“严重影响墨西哥的商业环境”。韩国也已开始与墨西哥官员接触，开始讨论。

Mexican President Claudia Sheinbaum stated that officials will meet with Chinese representatives this week to discuss Mexico’s planned tariffs, emphasizing they are not coercive. The tariffs, affecting hundreds of goods from countries lacking trade agreements with Mexico—especially Chinese autos—are aimed at bolstering domestic production. Sheinbaum stressed, “We have a very good relationship with China and we want to keep having a very good relationship with them,” asserting the measures are not directed at any specific nation. China criticized the move last week, warning it could “seriously affect Mexico's business environment.” South Korea has also initiated contact with Mexican officials to begin discussions.

墨西哥10年期政府债券收益率降至8.56%，为2023年6月以来的最低水平。在过去的4周里，墨西哥10年期债券收益率下降了29.00个基点，在过去的12个月里，它下降了67.00个基点。

Mexico 10 Year Government Bond Yield decreased to 8.56%, the lowest since June 2023. Over the past 4 weeks, Mexico 10Y Bond Yield lost 29.00 basis points, and in the last 12 months, it decreased 67.00 basis points.

墨西哥比索兑美元汇率触及18.47，为2024年8月以来的最高点。在过去的4周里，美元墨西哥比索下跌了0.63%，在过去的12个月里，它下跌了5.44%。

The Mexican Peso touched 18.47 against the USD, the highest since August 2024. Over the past 4 weeks, US Dollar Mexican Peso lost 0.63%, and in the last 12 months, it decreased 5.44%.