Core Viewpoint - Mexican local bonds, specifically Mbonos, have delivered a remarkable 22% return for investors in 2025, making them one of the top performers in emerging market local debt indices, second only to Brazilian government bonds [1] Group 1: Investment Performance - Mbonos bonds issued by the Mexican government for public spending financing have achieved a 22% return for investors in 2025 [1] - The performance of these bonds is attributed to the attractive yield and the resilience of the Mexican peso amid the Trump tariff war [1] Group 2: Market Sentiment - Institutional investors such as Aberdeen Group, Neuberger Berman, and Pictet Asset Management believe there is still room for further gains in Mexican bonds due to their appealing yields [1] - Expectations of the Federal Reserve easing monetary policy in the coming months contribute to the positive outlook for these bonds [1] Group 3: Expert Opinions - Gorky Urquieta, co-head of emerging market debt at Neuberger, emphasizes the rationale for maintaining positions in Mexican bonds based on fundamentals, technicals, and interest rate valuations [1]