Manuel Ballesteros, CEO and Founder of Dolomiti Capital, joins Miguel Olea, Allan Cassis and Jorge Combe on Skin in the Game to discuss the shifting outlook for interest rates, bond markets in Mexico and the U.S., the implications of the U.S.–Venezuela oil agreement, and Nvidia’s acquisition of Hugging Face.
Watch in youtubeListen in SpotifyManuel Ballesteros, CEO and Founder of Dolomiti Capital, joins Javier Morodo to discuss the recent moves in the Mexican peso, the unwinding of the carry trade, and what current market conditions mean for fixed-income investors.
The conversation explores Mexico’s bond market, interest rates, currency dynamics, and the shifting relative value between bonds and equities.
Manuel Ballesteros, CEO and Founderof Dolomiti Capital, joins Javier Morodo for a conversation on the bond market, its role in generating passiveincome, and its relevance within investment strategies.
Listen in Youtube Listen in SpotifyManuel Ballesteros, CEO and Founderof Dolomiti Capital, presents this master class on the bond market and its role as asource of passive income and portfolio stability. some text inside of a div block.
ASUR’s first international bond issuance offers an attractive relative-value opportunity across USD and MXN markets. In this Trade Alert, we analyze the new 2031 and 2036 bonds, their credit fundamentals, valuation versus comparable Mexican issuers, and the potential catalysts for spread compression.
Read InsightIn this Dolomiti Trade Alert, we examine Mercado Libre’s first issuance in Mexico’s peso bond market through Mercado Lending. While both tranches carry the same local AAA rating, their structures create very different risk/reward profiles. We explain why we participated in the three-year floating-rate MELIMX 26, while passing on the five-year fixed-rate tranche, with a focus on call optionality, relative value and the potential implications of Mercado Pago’s banking license.
In this Dolomiti Insight, Manuel Ballesteros, CEO and Founder of Dolomiti Capital, explores the investment case for Televisa’s 2037 MXN bond, where a strengthening balance sheet, improving operations and fresh junior capital contrast with spreads that continue to price in significant credit risk.
Read InsightIn this Dolomiti Insight, Manuel Ballesteros, CEO and Founder of Dolomiti Capital, examines spread compression across Mexican corporates and highlights potential disconnects between market pricing and underlying credit fundamentals.
In this Dolomiti Insight, Manuel Ballesteros, CEO and Founder of Dolomiti Capital, revisits one of the oldest inefficiencies in credit markets: forced selling. Through the lens of Orbia’s recent downgrade, he explores how technical flows—not fundamentals—are driving dislocations, and where that gap may be creating asymmetric opportunities for investors.
Read InsightIn this Dolomiti Insight, Manuel Ballesteros, CEO and Founder of Dolomiti Capital, examines the rapid expansion of private credit in Mexico, questioning whether the surge of global managers entering the market may lead to spread compression, weaker underwriting standards, and hidden credit risks for institutional investors.
In this Dolomiti Insight, Manuel Ballesteros, CEO and Founder of Dolomiti Capital, analyzes the evolving credit story of PEMEX, assessing the sustainability of government backing and the risks that may emerge as spreads tighten despite persistent structural weaknesses.
Read InsightIn this Dolomiti Insight, Manuel Ballesteros, CEO and Founder of Dolomiti Capital, examines one of the most overlooked risks in fixed income: when reported NAV diverges from economic reality. Through a detailed review of Mexico’s award-winning debt fund VALUEF2, he explores how illiquid bond pricing, model-driven marks, and structural blind spots may be distorting returns across the local fund industry.
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