Monex debuts CMS play, interest rates-linked products revive

The Mexican issuer's activity in 2023 was again dominated by FX trades but interest rates saw a revival and gained more visibility after a quiet period. The product bids on leveraging the high volatility of a specific curve node to be able to pay a higher coupon, an above market coupon -  Alan Huitrón Fernández  "Interest rates-linked products represented 10% of our issuance in 2023. The impact of these products on the overall sales volume was very positive," Alan Hui