Borrowing close to home to get easier in Brazil, tougher in Mexico

Borrowing close to home to get easier in Brazil, tougher in Mexico

Brazil Colombia Mexico Bonds Loans Economy & Policy Funds Features

Latin America's three largest local bond markets offer a study in contrast. Colombia's market is gaining steam and becoming more accessible to companies beyond the top-rated issuers. But it still lags behind the two largest exchanges in Latin America — Brazil and Mexico.  In Brazil, corporate issuers are hanging on the hopes that interest rates will keep falling this year. The central bank has started trimming the Selic benchmark lending rate, cutting it twice since October 2016 to 13.75%, and set a goal of lowering it to 13.25% in January. Economists predict the Selic will drop to 10.5% by the end of 2017, according to a survey from the central bank. As interest rates decline in Brazil, mor

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