Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers I > Headlines for Instituto del Fondo Nacional para el Consumo de los Trabajadores (Fonacot) > News item |
EM quiet at start of week; NAFTA, tariff uncertainty stoke volatility; Senegal on deck
By Rebecca Melvin
New York, March 5 – Emerging markets restarted the week on a quiet note on Monday after trending wider late last week.
Volatility was a mark of the session in the broader markets, with U.S. stocks rallying after early weakness and U.S. Treasuries slipping after an early bid. The U.S. dollar rallied against the Mexican peso and Canadian dollar as the latest round of talks on the North American Free Trade Agreement were wrapping up in Mexico City on Monday.
Mexico’s dollar-denominated bonds were under pressure and set to open weaker on Tuesday.
The Latin America dollar primary market has been quieted in the last two weeks by fears of rate hikes and now talk of tariffs, but local currency bond market has been active. Mexican consumer lender Instituto del Fondo Nacional para el Consumo de los Trabajadores (Fonacot), planned to priced $106 million of local currency bonds via Actinver and BBVA Bancomer. The state-owned consumer lender plans to price the 2020 bonds next month, according to a market source.
Among existing notes, Mexico’s 4.6% notes due 2046 ended the day up about ¼ point at 93.59 compared to 93.36 on Friday. The 4.6% bonds have stabilized since dropping from about 98 to 92 in February.
In the primary arena, Senegal is on the calendar for a dual-tranche offering of euro- and dollar-denominated notes.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.