The session saw a strong rebound in the U.S. one day after the Fed raised rates for the first time since 2023, triggering an initial drop that was viewed today as an overreaction; a second consecutive decline in oil prices eased pressure on yields and reignited risk appetite. Equity indices rose sharply, with the Nasdaq up 1.6%, the S&P 500 up 1.1%, and the Dow Jones up 0.7%, while semiconductor stocks rose 3%. In Asia, the Nikkei gained 0.3% ahead of the Bank of Japan’s rate hike scheduled for tomorrow—the closest to a previous hike since 1990—while the Kospi remained flat and the CSI 300 fell 0.4%. Europe also posted gains, with the Stoxx 600 advancing 1.5%, further supported by the Bank of England’s announcement of a change to its gilt-selling plan, which provided relief to the British bond market. Commodities had a mixed session: WTI fell 0.6% to $101.8, and Brent fell 1.1% to $104.6, while gold rose 2.1% and silver rose 3.8%. Yields fell across the curve: the 10-year UST dropped 7.7 bps, the 2-year 5.0 bps, and the 30-year 6.6 bps, after the 10-year had hit its highest level since 2007—a pattern also seen in Europe, where the Bund fell 3.1 bps and the Gilt 7.1 bps. On the FX and volatility front, the DXY remained virtually flat at 100.2, while the VIX fell 2.1 points to 15.6.

In Venezuela/PDVSA, the sovereign yield curve rose 0.3 points across all maturities. Within PDVSA, short- and medium-term maturities rose 0.3 points and 0.5 points, respectively, while Elecar remained flat and PDV'20 rose 0.1 points. Trading volume totaled USD 234 million, concentrated in PDV'27 and PDV'35.

As for Latin American bond yields, the tone was also positive: Mexico rose 0.8, Pemex 0.9, Colombia 0.7, Ecuador, El Salvador, and the Dominican Republic 0.5 each, Brazil 0.3, and Argentina 0.1 points. Trading volume was moderate to low.