The US and the European Union reached the expected tariff agreement, in which the EU accepted a 15% tariff on most of its exports to the US; the market had no major reaction, with US indices closing with slight mixed variations, while in Europe there were small declines and in Asia also mixed results. In fixed income, there was demand for European sovereign bonds whose yields fell 2-4bps, while UK gilts and US treasuries fell, with yields rising 1-3bps. In commodities, crude oil rallied 3% after Trump said Russia has 10 days to agree to a truce with Ukraine, pushing WTI to $67, amid a 1% appreciation of the dollar, which erased the last 10 days of losses.

Venezuela and PDVSA fell 0.10-0.25pts, following comments from Secretary of State Marco Rubio, who said that Maduro is not the president of Venezuela but the leader of the Cartel of the Suns.

In Latin American credits, Argentina sovereign and Pemex rose 0.25-0.4pts, while the rest of the region were mixed 0.25pts.