Monetary policy cycles nearing turning points

Monetary policy cycles across the region are nearing turning points. In most cases this means that easing cycles are drawing to a close and, as markets start to consider the eventual onset of monetary tightening, bond yields at the short end of the curve are likely to rise over the next 6-12 months. But Mexico is an exception and here we see scope for short-dated yields to fall over the course of this year.