The country's adherence to fiscal discipline, despite low debt levels, is commendable and reassuring for investors.

This operation removes the stigma of having bonds trading in the market that reminds investors of the debt crisis and moratorium of 1987 followed by the restructuring of the mid 1990s; signaling the beginning of new stage that could eventually lead the credit to investment grade status within a few years.

The market is getting ready for re-election to go ahead.

A backdrop of monetary tightening, high commodity prices, robust productivity growth and buoyant activity will continue to offer support to the peso.

Investment spending continues to be very vigorous. There was 26 percent growth in investment in the first half of the year.

The amount accepted was lower than expected.