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How do oil prices influence sovereign debt auction behaviour? Study of 91 days Mexican cetes.
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This thesis investigates the factors that influence demand for Mexican government debt in the primary market as measured by bond auction bid-to-cover ratios. The paper examines the influence of oil market dynamics, domestic and global risk indicators and macroeconomic
factors using panel data and fixed-effects models. The findings emphasize how important creditworthiness and oil prices are in drawing in investors, but global liquidity and economic expansion also have an impact. With a focus on diversification and careful credit management
in emerging nations, the findings offer policy insights for enhancing fiscal resilience and preserving investor confidence.
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Oil prices Auction behaviour SVAR Panel regression Bid to cover ratio