1413 GMT - The cost of insuring Mexican sovereign debt against default trades close to its highest in ten weeks following the U.S. announcement on 25% tariffs on all auto imports. Mexico is the largest automotives exporter to the U.S. according to S&P Global Mobility data. "Given that the tariffs offer virtually no leeway to the U.S.-Mexico-Canada Agreement (USMCA) partners, Mexico faces tough economic circumstances," Societe Generale's Dev Ashish says in a note. The five-year Mexican credit default swap spreads rose to 134 basis points late Wednesday and trade just shy of that level, at 133 basis points on Thursday, S&P Global Market Intelligence data show. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
March 27, 2025 10:13 ET (14:13 GMT)
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