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Rates Snapshot - Swap Rates Lower/Curves Bull Flatter

LATAM
  • LatAm Rates Snapshot: Mainly bull flatter swaps curves in line with currency gains. An easing of recent pressure in Colombian IBR curve. Strong bull flattening in TIIE swap rates, with the long end gaining between 10-14 basis points and unwinding the move higher witnessed in late April and early May.
  • {MX} Mexico TIIE Swaps:
    • 1-yr -3 bps at 4.57%
    • 2-yr -7 bps at 4.93%
    • 5-yr -10 bps at 5.89%
    • 10-yr -12bps at 6.7%
    • 32-yr -14 bps at 7.46%
  • Chile Camara Swaps:
    • 2-yr -2 bps at 1.30%
    • 5-yr -2 bps at 2.5%
    • 10-yr -4 bps at 3.50%
  • Colombia IBR Swaps:
    • 1-yr -2 bps at 2.38%
    • 2-yr -6 bps at 3.15%
    • 5-yr -10bps at 4.68%
    • 10-yr -11 bps at 5.73%

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