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Citi Downgrade Local Currency Sovereign Bonds Following Poll

PERU
  • The Peruvian Sol closed over 1% lower in reaction to the IPSOS poll over the weekend, that showed leftish candidate Pedro Castillo with a firm lead over his rival Fujimori.
    • Citigroup downgraded Peru's local-currency sovereign bonds to neutral from a "small overweight" after the poll. Their note stated that the gap was far wider than expected and that the risk profile has changed for the worse.

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