Oil prices fell 6% amid expectations of a deal between the U.S. and Iran—which Trump said is “very close”—with WTI closing at $98 (which also rolled over to the July contract) and Brent at $105; base metals and agricultural commodities also declined. Yields extended yesterday’s move and then some, falling by up to 11 bps on the Treasury curve and 14 bps in Europe; meanwhile, on the equity front, Asian markets closed in the red early on, but European markets gained an average of 2% and U.S. indices an average of 1.1%. The dollar depreciated 0.25%, returning to 99 on the DXY, and the VIX ended at 17.4.

Venezuelan bonds traded within a range of ±0.25 points throughout the day, marking one of the lowest-volume days of the year, with trading limited to small positions in the long-term sovereign sector and the mid-term PDVSA sector.

Latin American bonds rose by 0.25–0.75 percentage points, with spreads widening by 1–3 basis points amid the recovery in Treasuries.