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Local Assets Halt Decline Despite Ongoing Protests

COLOMBIA
  • Despite ongoing protests the Colombian Peso rose yesterday and swap yields fell as markets calmed after severe pressure has been placed on local assets. Firmer CPI data helped buoy the Peso, as well as positive risk sentiment helping to bolster emerging market currencies.
  • Reuters reported smaller groups of demonstrators in cities including Bogota and Medellin, while industry groups warned of gasoline shortages across the country following roadblocks.
  • Central Bank Co-Director Caroline Soto made comments warning the protests may negatively impact the nation's economic recovery.

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