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Colombian Peso Rises 3.5% Following First-Round Election Results

COLOMBIA
  • USDCOP (-3.5% at 3800) coming under significant pressure following the first-round results:
    • As noted, notable medium-term support well defined around 3710, the June 2021 lows.
  • YIELDS ON COLOMBIA PESO BONDS DUE 2050 FALL 23BP TO 11.17% (BBG)
  • Colombia IBR Curve Bull Flattening:
    • 1-yr +0 bps at 8.8%
    • 2-yr -12 bps at 8.58%
    • 5-yr -14 bps at 8.45%
    • 10-yr -15 bps at 8.38%

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