# Wall Street giants bet on Colombia sinking deeper into junk

> Wall Street banks expect Fitch to downgrade Colombia's credit rating to junk. The peso dropped about 0.8% to a one-week low against the dollar, and Colombian stocks fell more than 2%.

- Date: 2021-05-20 · published 2021-05-20T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/47395-wall-street-giants-bet-on-colombia-sinking-deeper-into-junk
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

A junk rating would raise Colombia's borrowing costs and could push capital out of local assets, weakening the peso. A weaker peso makes dollar-priced imports more expensive for Colombian feed buyers.

## Read by commodity

- USDCOP: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/business/finance/jpmorgan-morgan-stanley-bet-colombia-sinking-further-into-junk-after-sp-move-2021-05-20/?taid=60a6878cd25af9000156a91b

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.