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Colombia's peso ended down 3.2% on Wednesday, its largest daily drop in more than nine months, after Petro replaced Finance Minister Ocampo with Ricardo Bonilla. The MSCI COLCAP stock index fell 1% and the yield on 10-year foreign-traded debt rose.
Markets had hoped Ocampo would stay, so his exit signals policy risk and a weaker peso, which raises the local cost of dollar-denominated feed imports. Higher bond yields also tighten financing conditions.
financialpost.comReutersApr 26, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
