Alejandro Padilla Santana

Banorte

Executive Director of Economic Research and Financial Markets Strategy @ Banorte

Alejandro Padilla has 15 years of experience as a professional economist and macro strategist. Mr. Padilla is Executive Director of Economic Research and Head of Financial Markets Strategy (Fixed Income, Currencies, Commodities and Equities) at Grupo Financiero Banorte, the second largest bank in Mexico. He has been part of Banorte’s team for the last 10 years. Previously, Mr. Padilla worked for more than 3 years at J.P.Morgan Chase as emerging markets strategist, based primarily in the Mexico City office. He has also worked in the financial sector in areas related to treasury and IR. Mr. Padilla obtained a Master’s degree in Economics from University of Stellenbosch, together with an Honours degree (graduate level) in Financial Economics from the same institution. He holds a Bachelor’s degree in Economics from ITAM in Mexico and a Corporate Finance diploma from Kellogg/Northwestern University. On the academic front, Mr. Padilla has lectured in the MBA program at Universidad Iberoamericana and at several diploma programs about corporate finance and market economy at Tecnológico de Monterrey – EGADE Business School, Universidad Anáhuac and Riskmathics. He actively participates in national and international publications, as well as in radio and TV specialized programs, highlighting a monthly newspaper column at El Financiero Bloomberg. He was awarded with the “Future Leaders” distinction in 2017 by the Institute of International Finance. Since 2020 is part of the Economic Studies Committee from IMEF. He has dictated several conferences about economics and financial markets in Mexico, United States, Europe and Asia

Alejandro Padilla Santana
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Latest articles from Alejandro Padilla Santana

Mexican government presents new investment plan with private sector

This new plan details 29 projects for a total amount of $228.6 billion (US$11.4 billion), equivalent to 1.0% of GDP. Out of these, 3 are slated to begin this year, with the remaining 26 starting in 2021. This comes on top of the previous plan –announ...
Banorte Gabriel Casillas Olvera
Gabriel Casillas Olvera @ Banorte 1 December 2020
Mexican government presents new investment plan with private sector
Mexican government presents new investment plan with private sector

Mexico: 3Q20 GDP – Broadly unchanged, highlighting more dynamism in services

We maintain our -9.0% y/y estimate for 2020 GDP. On a more positive note, services recovered more strongly than expected since the preliminary print was released, with a further revision higher today of close to 20bps, to 8.8% q/q. By their nature, u...
Banorte Gabriel Casillas Olvera
Gabriel Casillas Olvera @ Banorte 26 November 2020

Mexico's central bank raises its forecasts despite prevailing uncertainty

Banxico published today its 3Q20 Quarterly Report (QR). As anticipated in the last statement, the monetary authority revised its inflation forecasts mostly to the upside. Hence, there is no convergence to 3% in headline inflation during the forecast...
Banorte Gabriel Casillas Olvera
Gabriel Casillas Olvera @ Banorte 26 November 2020

Mexico inflation back within Banxico’s variability range

The final reversal of summer discounts in electricity tariffs was observed this period, up 22.7% 2w/2w, adding 39bps to the headline. This was helped by a more benign base effect at the non-core, which fell to 2.67% from 4.42%. We expect a further br...
Banorte Alejandro Padilla Santana
Alejandro Padilla Santana @ Banorte 24 November 2020

Mexico: Banxico – An unexpected pause in the easing cycle

Only one member voted for a 25bps cut, to 4.00%. The addition of two phrases mentioning that this pause provides the necessary room to confirm that the trajectory of inflation converges to the target. Flattening of local yield curve in the aftermath...
Banorte Gabriel Casillas Olvera
Gabriel Casillas Olvera @ Banorte 13 November 2020

Mexico: Banxico – Another 25bps cut after the US election

Considering recent developments, we modify our expectation about Banxico’s upcoming monetary policy meeting, which will take place on Thursday, November 12th. We believe this will be a difficult decision. This would imply no further action on the mee...
Banorte Gabriel Casillas Olvera
Gabriel Casillas Olvera @ Banorte 8 November 2020
Mexico: Banxico – Another 25bps cut after the US election
Mexico: Banxico – Another 25bps cut after the US election

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Alejandro Padilla Santana
Mexico
Manuel Jimenez Zaldivar
Gabriel Casillas Olvera
Fixed Income - Sovereign
Banxico
Macro
Juan Carlos Alderete Macal
Macro-strategy
Equity
US
Francisco Jose Flores Serrano
2021
2020

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