U.S. Treasury's Yellen Says U.S., Mexican Financial Teams Discussed Possibility Of More Deeply Integrating Cross Border Payments Systems
Portfolio Pulse from Benzinga Newsdesk
U.S. Treasury Secretary Janet Yellen discussed with Mexican financial teams the possibility of more deeply integrating cross-border payment systems between the U.S. and Mexico. This could enhance financial transactions and economic cooperation.
December 07, 2023 | 6:06 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY), which tracks the S&P 500 index, may experience indirect benefits from the potential integration of U.S.-Mexico payment systems, as it could positively impact U.S. companies with significant operations in Mexico.
While SPY is a broad index ETF and not specifically focused on U.S.-Mexico trade, improvements in cross-border payments could have a positive, albeit indirect, effect on the U.S. economy and companies within the index.
CONFIDENCE 65
IMPORTANCE 50
RELEVANCE 40
POSITIVE IMPACT
The iShares MSCI Mexico ETF (EWW), which tracks the investment results of a broad-based index composed of Mexican equities, could see increased interest as improved cross-border payment systems may facilitate trade and investment flows between the U.S. and Mexico.
The integration of payment systems is likely to simplify and reduce the cost of transactions between the two countries, which could lead to increased economic activity and benefit companies within the EWW ETF.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70