The peso advanced to its best level since Oct. 8, following momentum in overseas markets on signs that the U.S. government could reopen soon. The BMV, meanwhile, reversed its initial gains due to profit-taking after it approached its historical maximum of 63,682.80 points that it reached last week.
The dollar stood at 18.3807 pesos, a gain for the national currency of 0.42% compared to the previous session and the fourth day in a row with appreciations, according to closing data from Banxico.
The United States Senate advanced on Sunday a motion aimed at ending a 40-day partial shutdown of the federal administration that has suspended the publication of official macroeconomic information.
“The partial shutdown of the US government – the longest in history – will likely prevent the publication of CPI and retail sales data (scheduled for this week), although if the Government reopens, the delayed figures will begin to be published,” BlackRock highlighted in a report.
In a procedural vote, senators endorsed a bill passed by the House of Representatives that will undergo amendments to fund the Administration through January 30 and includes a package of three full-year appropriations bills.
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The benchmark S&P/BMV IPC stock index fell 0.42% to 63,109.91 points, according to preliminary closing data, and analysts believe that the adjustment could extend into the remainder of 2025.
According to a survey among analysts prepared by the Mexican Association of Stock Market Institutions (AMIB), the indicator would close the year at 61,050 units, 3.4% below its current levels. Even so, the outlook is better than the 60,483 points anticipated in its October survey.
Grupo Carso titles led the day’s losses, with 3.72% less to 129.51 pesos, followed by Grupo Bimbo, which fell 2.74% to 63.50 pesos.
In the secondary debt market, the 10-year bond yield rose eight basis points to 8.76%, while the 20-year rate rose five basis points to 9.47%.
With information from Reuters.
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