It was a mixed day in the U.S., with the major indices closing slightly lower: the Nasdaq fell 0.6%, the S&P 500 dropped 0.3%, and the Dow Jones declined 0.3%, while Europe (Stoxx 600) rose 0.2% and Asia closed mixed, with the Kospi up 0.7% and the CSI 300 down 0.8% (the Nikkei was flat). In fixed income, we saw a bull flattening (when short-term rates fall more than long-term rates) in the UST yield curve: the 2-year yield fell 2.3 bps, the 10-year yield fell 1.7 bps, and the 30-year yield fell just 1.0 bps, with similar movements in the Bund (-2.2 bps) and the Gilt (-2.5 bps). On the commodities front, oil rose sharply due to geopolitical tensions in the Gulf, after the U.S. fired on a Panamanian-flagged vessel attempting to break the naval blockade of Iran and amid signs of a rapprochement between Iran and Oman to reopen the Strait of Hormuz: WTI rose 1.7% to $83.5 and Brent rose 1.5% to $89.1. Gold fell 0.4% and silver fell 1.5%, while copper rose 0.2%. The DXY remained virtually flat at 99.8, and the VIX fell 0.2 points to 15.3.

The Venezuelan yield curve closed slightly lower, falling by an average of about 0.1 points, with the short-, medium-, and long-term segments moving in the same direction for both government bonds and PDVSA bonds. The PDV'20 also fell, closing 0.1 points below the previousclose. Trading volume was low.

Latin American bond yields showed slight and mixed movements: Mexico, Colombia, and Pemex closed virtually flat; Argentina and Ecuador rose marginally; while Brazil fell 0.1 points, the Dominican Republic fell 0.2 points, and El Salvador was the weakest in the region, falling 0.3 points. Trading volume was low.