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Peru's sol fell 1.14% to 3.6730 per dollar, its largest daily loss since November, and the 2051 dollar bonds dropped about 1 point after leftist candidate Pedro Castillo was reported as the clear favorite in an Ipsos poll ahead of June's election. CDS spreads rose to their highest since June.
Castillo's party said it would renegotiate mining contracts rather than seize assets.
A market-negative election signal raises Peru's sovereign risk premium and pressures the sol, making dollar-denominated imports more expensive for Peruvian feed buyers.
testbbx2.bondblox.comFeb 17, 2021Not 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.
