Easy come, easy go...

Foreign investment poured into Mexican government peso-denominated money market obligations in the first five months of this year: through May, it totaled US$17.58 billion. As concerns about the vitality of growth in the US and Europe as well as fears over the Europe-centered debt crisis revived during the summer, Mexico felt the backlash. In June, for the first time since May 2010, foreign investors pulled money out of government money market instruments -- US$0.89 billion.  Inflows into Mexican money market instruments in the second quarter still totaled US$6.15 billion (a billion dollars more than FDI in the quarter), but 41.7% less than in the first.

Any guesses about what the July and August figures will show? Looking at the peso's slide, my money is on big outflows....