The ceasefire between the U.S. and Iran led to a nearly 9% plunge in crude oil prices, with WTI closing at $81.94 and Brent at $87.81, triggering a global yield curve flattening, with long-term yields falling more than short-term yields, compressing the curve’s slope, and resulting in declines of up to 4 bps in Europe and 3 bps at the long end of the Treasury curve. In equities, Asian markets advanced, led by China (CSI300 +1.15%) and South Korea (Kospi +0.97%), while Europe retreated 1.1% (Stoxx600); in the U.S., the Dow rose 0.5%, although the Nasdaq closed slightly in the red (-0.18%) and the S&P was virtually flat. The dollar appreciated 0.04% (DXY 101.5), and the VIX rose 0.08 points to 18.7.

Venezuelan bonds declined across the board, with the sovereign yield curve falling 0.1 points and PDVSA yields dropping as much as 0.3 points, the exceptions being Elecar, which rose 0.5 points, and PDV'20, which gained 0.1 points, amid trading volumes that remain below average due to the summer season.