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Local Swap Rates Echo Moves In US Yields

LATAM
  • LatAm local swap rates are lower, broadly in line with moves in US yields. This follows more upbeat sentiment for risk assets in global markets triggered by company earnings in the U.S. and reinforced by above-estimate U.S. retail sales. The focus for the rest of the session will be on Colombian Finance Minister's press conference following the country's tax bill being sent to congress and Argentinian CPI. Friday sees little data on the docket.
  • Brazil DI Swaps:
    • 2-yr -7 bps at 6.51%
    • 10-yr -4 bps at 9.42%
  • Mexico TIIE Swaps:
    • 2-yr -4 bps at 4.855%
    • 10-yr -10 bps at 6.55%
  • Chile Camara Swaps:
    • 2-yr -8 bps at 1.22%
    • 10-yr -12 bps at 3.33%
  • Colombia IBR Swaps:
    • 2-yr -5 bps at 2.71%
    • 10-yr -5 bps at 5.17%

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