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Chilean Assets Remain Under Pressure Following Boric Win

CHILE
  • Asset prices have remained under significant pressure following the open on Monday as markets digest the potential implications of a left-leaning government and regime change.
  • The currency continues to probe below the 2020 highs 878.86. Swap rates have risen across the Camara curve and the IPSA index is fast approaching the October lows below 4000 after incurring a 6.5% drop to start the week.
  • Just PPI data this week and so the focus will likely be on any announcement regarding potential cabinet members with newswires pinpointing the position of finance minister may be crucial to settle markets.
  • USDCLP up 3.63% at 875.4
  • Chile IPSA Index down 281.09 points (-6.45%) at 4076.69
  • Camara Swaps:
    • 1-yr +7.5 bps at 5.75%
    • 2-yr +7 bps at 5.47%
    • 5-yr +12 bps at 5.455%
    • 10-yr +15 bps at 5.57%
    • 30-yr +17 bps at 5.98%

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