Asia closed in green to start the session on the equity side, then in Europe we saw declines of less than 1% and in the US the day closed mixed, with marginal changes. The treasury curve ended slightly higher after trading in the red for most of the session, with yields down 2bps, while in Europe rates rose marginally. On the commodities side, crude oil rose 1% after a sharply higher-than-expected inventory draw in the US, while metals and agriculture closed mixed, seeing declines of up to 2% in some agricultural items. The dollar depreciated 0.2%, touching a new low since March 2022. VIX fell to 17.

In the VENZ/PDVSA complex we saw demand for the oil company's papers, which lifted bids by around 0.25pts, while in the sovereigns there were no major changes, with flows remaining more balanced. PDV'20 had buying that raised prices 1.5pts, and then in the afternoon there were reports of a bid by private equity firm Black Lion for Citgo Holding for $8Bn cash; the winner of the auction is expected to be announced on July 2.

In Latin American credits, Ecuador stands out on the positive side, gaining 0.5pts, while sovereign Argentina gave back some of yesterday's gains, giving back 0.25pts, seeing the rest of the region with movements within that range.