Mexico central bank sells 3-month CETES; average yield 6.48%

On June 3, 2026, the Bank of Mexico (Banxico) conducted a regular auction for 3-month CETES (Certificados de la Tesorería de la Federación), a key short-term government debt instrument. The auction resulted in an average yield of 6.48%, reflecting current market conditions and investor demand for low-risk, government-backed securities. CETES are zero-coupon bonds sold at a discount and redeemed at face value upon maturity, typically traded in denominations of 10 Mexican pesos.

The auction process, held weekly, allows investors to submit bids based on the discount rate they are willing to accept. The final yield is determined by competitive bidding and serves as a benchmark for short-term interest rates in Mexico. The 6.48% yield indicates the return investors can expect if they hold the CETES until maturity.

CETES are widely used by institutional and retail investors for liquidity management and portfolio diversification due to their high liquidity and low credit risk. The secondary market for CETES is well-developed, enabling active trading and derivative use. The results of this auction provide insight into the current monetary environment and investor sentiment in the Mexican fixed-income market.