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Colombia's Finance Ministry has been buying dollars, with net purchases of over $290mn on Tuesday, ahead of a roughly $4bn buyback of offshore bonds. Public credit director Javier Cuellar signaled more purchases, taking advantage of peso strength that reached a five-year high of COP 3575.4/USD.
Colombian dollar bonds rose across the curve.
Dollar buying and the debt buyback add demand for hard currency and support the peso, which lowers USDCOP. Feed buyers see little direct effect on grain or meal prices.
bondblox.comSep 20, 2017Not 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.
