The global market day revolved around the Fed’s decision to raise the rate by 25 basis points to a range of 3.75%–4%, the first hike since 2023, with the dot plot signaling one additional hike this year and two 25-basis-point hikes in 2027. The vote was unanimous despite pressure from Trump for lower rates; the committee raised its median rate forecast for the end of 2026 to 4.1% from 3.8% and pushed back its timeline for inflation to return to 2% by one year—now projected for 2029—reinforcing the narrative of higher rates for longer. U.S. stock indices closed lower; the Nasdaq was flat, the S&P 500 fell 0.4%, and the Dow Jones dropped 1.2%, while Asia and Europe advanced, with the Nikkei up 0.7%, the Kospi up 1.4%, the CSI 300 up 0.7%, and the Stoxx 600 up 1.7%. In commodities, WTI fell 3.5% to $102.1 and Brent dropped 2.7% to $105.8, while gold retreated 0.6% and silver fell 1.0%. In yields, the UST2Y rose 7.4 and the UST10Y rose 1.3 bps, while the UST30Y fell 1.2, the Bund10Y fell 3.3, and the Gilt10Y fell 9.0 bps. In the FX and volatility markets, the DXY rose 0.6% to 100.2, and the VIX gained 0.5 points to 17.7.

In Venezuela/PDVSA, the sovereign yield curve and the PDVSA yield curve remained flat, as did Elecar, while the PDV'20 rose 0.2 points. Trading volume stood at around USD 120 million, concentrated in the PDV'26 and PDV'35.

As for Latin American yield curves, the day was positive despite the global decline in risk assets: Mexico rose 0.3, Ecuador 0.3, Pemex 0.7, and Brazil 0.1 points, while Argentina, El Salvador, and the Dominican Republic remained flat, and Colombia fell 0.2 points. Average volume.