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MEXICO - Report 24 Jun 2013 by Mauricio González, Ernesto Cervera and Carlos Noriega
Executive SummaryFinancial markets were roiled last week as Federal Reserve Chairman Ben Bernanke and other officials spoke more explicitly about tapering off their quantitative easing – which currently consists of USD 85 billion in bond purchases each month – sometime later this year, and completely eliminating it by mid 2014, as long as inflation and unemployment continues to live up to Fed targets. The ensuing bond selloff also stoked volatility in stock markets. The Mexico Stock Exchange was no exception as its benchmark IPC index fell 3.14% on the week. The FIX exchange rate[1] plunged...

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