Citigroup World Government Bond Index
The market liked the news from Citigroup (NYSE) that Mexican securities will be eligible for inclusion in its World Government Bond Index, resulting in the Mexican peso rising to a 17-month-high.
The Mexican peso has been the top-performing currency of the 16 highest-traded currencies in the world in 2010, and could strengthen more as the inclusion on Citigroup's World Government Bond Index attracts the attention of foreign investors.
Citigroup said Mexico will be added to the World Government Bond Index once the requirements to enter the Index are met for three months in a row, which includes in relationship to Mexican bonds - barriers to entry, size and credit.
At this time Mexico meets all the requirements and is expect to have no problem peforming in that capacity for three months in a row. Mexican debt could enter the Index as early as October 2010. Mexico will be the first Latin American country to be added to Citigroup's World Government Bond Index.
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