The Fed kept rates unchanged as expected at 4.25-4.5%, but Powell in a press conference gave indications that he expects them to remain the same in the near future, despite the fact that in the rate vote there were two governors who voted for cuts, the first time since the 1990s that there have been two dissenters. Rates rose across the curve, more so at the short end, where the increase was 7bps on a change in expectations for the remainder of the year to a 25bps cut in October and a 50% chance (from 80% yesterday) of another 25bps cut in December. Equities were very volatile post-Fed, but the Nasdaq closed higher and both the Dow and the S&P500 slightly lower, while in commodities, crude oil closed in the green again, crossing $70 for WTI, while metals and agriculture fell, the former by more than 2% in several items, in the face of a 1% appreciation in the dollar, which reached its highest level since May.

Venezuela and PDVSA had another weak session, falling 0.5pts sovereigns and 0.25pts PDVSA in the face of low liquidity and dealers getting little involved.

In Latin American credits, the day saw very little variation, with the main names in the region reporting mixed results of 0.25pts, with Argentina's sovereign standing out among the positives.