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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
COLOMBIA
- Capital controls are “neither necessary nor useful” Colombian public credit director Jose Roberto Acosta said via twitter on Thursday.
- Acosta went on to say the nation needs a sustainable fiscal policy to guarantee market credibility.
- The comments come amid market turmoil following President Gustavo Petro floating the idea of a tax on hot money flows as an alternative to interest rate rises in a series of tweets on Wednesday.
- Analysts have noted that President Petro’s timing was not ideal following policy makers at the central bank surprisingly shifting to a more dovish stance, potentially leaving investors concerned over political matters influencing policy.
- The Colombian peso came under significant pressure following the comments, with USDCOP (+0.69%) nearing an all-time high above 4600. Similar pressure has been seen in the IBR curve, with 2-year IBR swap rates rising around 23 basis points.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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