The hits keep coming for the Mexican peso. They have a lot of devaluing to do, now that they’re responsible for paying for a gigantic southern border wall.
The peso is lower by another 3.2%, approaching fresh lows reached on election night.
As an aside, the rise in sovereign bond yields isn’t just fun and games for asshole western nation with artificially rigged rates. As a consequence of the bond rout, nations who aren’t part of the QE cabal are seeing yields soar. The Brazilian 10yr is up 60bps today to 12.19%.
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Make no mistake, it’s going to be messy.