Mexican debt has traded in a relatively tight range to U.S. benchmarks.

Political deadlock on reform led Wall Street rating agencies to downgrade Mexican debt in late 2009.

If foreign investors begin to buy into Mexican debt, it could help limit the peso's slide.

Hasenstab said he has invested in Mexican debt with a maturity of less than two years.

Manager Luc D'hooge said he had taken advantage of cheap valuations in Argentine and Mexican debt.

The ceiling is not legally binding and does not mean Mexican debt will necessarily reach that level.

That gives Banxico plenty of room to reduce the rate without diminishing the appeal of Mexican debt, analysts say.

Mexican debt instruments were the most frequently traded last year in local markets at $500 billion, EMTA said.

My old creditors (principally the holders of the Mexican debts) came upon me last winter with vindictive fury.

The request was designed to restrict the units' capacity to make transactions outside the United States or take part in Vitro's Mexican debt restructuring.

Bonds have also been supported by news that Mexican debt will be included later this year in a major global bond index run by Citigroup.

That remains well above the $86,000 per year investors pay to insure their Mexican debt, according to data monitor Markit.

But 12 of 14 fund managers who hold Mexican debt said they thought a Clinton victory had not been totally priced in.

Mexican debt instruments were the most traded last year overall with $826 billion, or 16.9 percent of all volume, EMTA said.