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Chile's USD Bonds Fall, Pricing Sources Report CLP Down ~3%

CHILE
  • Initial reaction in markets following the weekend's elections confirms likely pressure on local assets. Chile's dollar bonds due in 2031 dropped 0.3 cent to 100.19 cents on the dollar, the lowest since March. The nation's 2041 notes declined by 0.5 cent to 97.58 cents on the dollar, their lowest since issuance earlier this month.
  • The electorate delivering a major rebuke to the country's major political parties will weigh on the Chilean peso which has been struggling to consolidate recent gains past the 700 level.
  • Initial reports using DATATEC pricing cite USDCLP as weakening 3.3% to 721. This would bring the pair above 715.36, Apr 23 high and a key resistance – potentially altering the technically bearish picture that has recently been developing.
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EM BulletHomepageChina Market NewsBulletEmerging Market News

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