Mexico

The day the president named him as Mexico’s new central bank chief, Alejandro Díaz de León tells GlobalCapital about the inflation challenge, and adds that the world’s central bankers should be keeping a close eye on the “atypical” business cycle in advanced economies.

Mexican cement group Cemex made a spectacular return to European bond markets on Tuesday, increasing the size of a seven year non-call three deal that bankers saw as coming inside fair value.

As much as Latin American bond markets have enjoyed a record year, trades of $300m or under that are not eligible for indices have largely struggled.

Broad demand helped Mexico’s Crédito Real price the first perpetual hybrid from a Latin American non-bank lender at the tight end of guidance on Tuesday.

Mexican non-bank lender Crédito Real is set to price its first perpetual hybrid bond on Tuesday after releasing guidance on Monday.

A record year for Latin American bond issuance could end quietly after a sharp softening in market conditions, although certain bond bankers continue to push clients to issue as soon as possible.

Mexican non-bank lender Crédito Real is on the road looking for a perpetual hybrid bond even as other issuers delay deals or roadshow announcements amid weaker market conditions.

Neither Brazilian pulp and paper company Fibria nor Mexican telco business Axtel were able to price new deals at the tight end of guidance on Thursday as syndicate bankers said a much-needed and predictable market correction had finally begun.

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The sterling corporate bond market took until Wednesday to join the issuance frenzy the euro market had enjoyed in the first half of the week, but three deals in two days reminded issuers and investors that it is still an option to be considered into the end of 2017.

On Thursday, the sterling corporate bond market reminded participants it was still going strong after the euro market had dominated the first half of the week. Petroleos Mexicanos, also known as Pemex, and Western Power Distribution followed the success of Wednesday’s deal from Manchester Airport.

The world’s largest bread maker, Grupo Bimbo, returned to bond markets on Tuesday after a three year absence. Its 30 year bond was sold mainly to US investment grade buyers, despite the issuer’s Mexican nationality.