- Colombian assets sold off after the Abelardo de la Espriella administration disclosed a preliminary 2027 fiscal deficit equal to 9.4% of GDP.
- The peso fell as much as 2.1% and yields on 10-year local government bonds rose more than 30 basis points following the fiscal announcement.
Quotes
“The picture painted by Colombia’s new government of the country’s public finances landed with a thud on Wall Street, sparking one of the worst selloffs of the year in the nation’s assets.”