Trump canceled his plans to attack Iran, triggering a massive rally in U.S. equities (Nasdaq +2.5%, S&P 500 +1.75%) and Treasuries, whose yields fell 10 basis points, along with a 4% decline in crude oil prices, with WTI closing at $86 and Brent at $89.

Venezuela and PDVSA saw strong demand, particularly the sovereign bonds, which gained 0.25–0.5 points, compared with 0.25 points for PDVSA, although trading volumes were below average.

In Latin American bonds, Argentina was the star of the day, with long-term bonds rising an average of 2.5 points in response to S&P’s upgrade, which raised the country’s rating from CCC+ to B-. The rest of the region saw gains of 0.5–1 point.