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Friday, November 30, 2012, 1:11 PM The bull run in the Mexican peso is over, write Bernard and Cignarella, as the country posts a Y/Y tripling in the trade deficit in October. The gap comes as the economy slows - Y/Y GDP growth of 3.3% in Q3 vs. an average 4.5% pace for the year. The Bank of Mexico today left rates unchanged at 4.5%, but backed off previous threats of an imminent rate hike. EWW +26.5% YTD, Comment! [Global & FX]
Wednesday, November 14, 2012, 5:43 AM Mexico's Senate yesterday passed a major labor-market reform bill that makes it easier to hire and fire staff, and shorten labor disputes. The government hopes the measures will create up to 400,000 jobs a year and cut the number of workers in the black market, which is estimated to cost Mexico as much as $15B in lost taxes each year. Major U.S.-listed firms that could be affected include American Movil (AMX) and Cemex (CX). Comment! [Global & FX]
Sunday, July 29, 2012, 8:20 AM Be careful chasing momentum, writes UBS' Javier Kulesz, reminding of 2 years ago when Brazil - garnering the Olympics and the The Economist cover while getting kudos for its swift post-GFC recovery - was a market darling, while Mexico was just the opposite. Since then, Mexico (EWW) is up over 20%, outperforming Brazil (EWZ) by more than 4500 basis points. Now it's Mexico drawing the raves. One might do worse going forward than going long Brazil against a short in Mexico. 4 Comments [Global & FX]
Thursday, May 17, 2012, 12:08 PM Mexico's Q1 GDP increased 4.6% Y/Y vs. expectations of 4.5% and from 3.9% in 2011 Q4. The strong performance of the peso this year has failed to dent manufacturing or exports, with March's trade surplus of $1.6B the highest for one month since 1985. Mexico (EWW) vs. Brazil (EWZ) this year. Comment! [Global & FX]
Friday, April 27, 2012, 10:08 AM The Bank of Mexico leaves its benchmark rate unchanged at 4.5%. EWW +13.7% YTD. Comment! [Global & FX]
Monday, April 9, 2012, 11:07 AM DJFX trader writes a paen to the Mexican peso on WSJ, saying it's "undeservedly underappreciated." So what if Mexico is riddled with drug-related crime and suffers from political instability, the peso is "among the most heavily traded in the world," even if most of that comes against the dollar. Comment! [Global & FX]
Friday, March 16, 2012, 11:10 AM The Bank of Mexico, as expected, holds its benchmark rate unchanged at 4.5%. EWW flat. Peso ETF: FXM +10.4% YTD. Comment! [Global & FX, Breaking News]
Friday, January 20, 2012, 3:05 PM Mexico's central bank leaves policy unchanged for the 24th consecutive meeting, its benchmark rate remaining at 4.5%. The bank is more concerned with slowing growth rather than a "transitory" recent rise in inflation as the peso weakened along with other emerging market currencies in 2011 H2. Mexico ETF: EWW +6.4% YTD. Comment! [Global & FX]
Friday, December 2, 2011, 10:20 AM The Bank of Mexico leaves its benchmark rate unchanged at 4.5%, but hints it is ready to cut in future meetings as the outlook abroad has suffered. "It is estimated that the balance of risks to economic growth has continued to deteriorate." One Mexican ETF: EWW -10% YTD. (PR, in Spanish) Comment! [Global & FX, Breaking News]
Monday, November 7, 2011, 3:13 PM HSBC's Sergio Martin fades consensus, believing the Bank of Mexico is not set to cut rates. The latest inflation figures came in fast, he says, and a recent weakening of the peso bodes ill for future reports. Plus, economic growth continues to cruise along, decoupled, for the moment, from the U.S. Comment! [Global & FX]
Friday, October 14, 2011, 2:40 PM Banco de Mexico keeps monetary policy steady, holding its benchmark rate at 4.5%, and saying the current posture "is conducive to achieve a 3% inflation objective." Mexican ETF: EWW -13.3% YTD. Peso ETF: FXM -6.5% YTD. (PR) Comment! [Global & FX]
Thursday, September 22, 2011, 3:28 PM Mexican shares and the peso continue to tumble as a government and central bank that were thought to be making a lot of right moves finds maybe they were just lucky to have been on the right side of the global risk trade (and now on the wrong side). Mexico shares ETF: EWW -7.2%, Peso ETF FXM -2.6%. Comment! [Global & FX]
Tuesday, June 21, 2011, 3:30 PM RBC notes a decade of wage inflation in China vs. stagnation in Mexico has left the U.S. southern neighbor quite competitive. Toss in a new world of expensive energy, and Mexico's advantage over China gets clearer. Look for Mexico's share of U.S. imports - 12.5% in 2010 - to keep rising. 5 Comments [Global & FX]
Monday, June 6, 2011, 12:56 PM Portfolio inflows in Mexico have reached an all-time high, Merrill Lynch reports - up to $39.4B last year, from $19.1B in 2009: "Mexico's solid fundamentals, better fiscal stance and debt ratios than those once considered better-credit countries have increased the country's attractiveness among investors." 1 Comment [Global & FX, Quick Ideas]
Tuesday, May 10, 2011, 4:39 PM "I feel very comfortable," says Mexican President Calderon regarding the strength of the peso. Even as economic growth motors along, Mexico has been able to avoid the sharp rise in inflation and interest rates other emerging economies are dealing with. Peso ETF: FXM +7.4% YTD. 1 Comment [Global & FX]
Thursday, April 7, 2011, 4:40 PM Unworried about the flow of greenbacks into its country, Mexico is dominating Latin American dollar-denominated bond sales, accounting for 65% of the action this year. Finance Minister Cordero believes capital controls, like those adopted by Brazil, are ineffective and only produce distortions in the market. Comment! [Global & FX]

SMK ProShares UltraShort MSCI Mexico Capped IMI ETF

SMK

ProShares UltraShort MSCI Mexico Capped IMI ETF