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Snapshot: Colombia Front-End Swap Rates Fall Notably

LATAM
  • Latam Snapshot: MXN outperforms in a weaker session for Latam currencies. COP the notable laggard following the continued neutral tone from the central bank that was considered a dovish outcome at the margin. Decent reaction in front-end of the IBR swaps curve. 1 and 2 yr swap rates seen higher by between 18-20 basis points as the curve reprices expectations for a later lift-off.
    • USDMXN flat at 19.8106
    • USDBRL up 0.57% at 4.9556
    • USDCLP up 0.47% at 737.36
    • USDCOP up 0.93% at 3743.33
  • Colombia IBR Swaps:
    • 1-yr -20 bps at 2.94%
    • 2-yr -18 bps at 3.80%
    • 5-yr +0 bps at 5.13%
    • 10-yr -5 bps at 5.82%

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