Asian equities recovered, advancing 1-2%, while in Europe and the US, on the other hand, we saw declines, with the Nasdaq recovering from the low but closing down 1.3% and the S&P500 down 0.7%. Treasuries acted as a safe haven, with yields falling 6-7bps, leaving the 10y yield at 4.1% and the 30y yield at 4.7%. In commodities, crude oil was flat, metals mixed and agriculture had significant declines due to expectations of lower demand from Asia in particular. VIX rose to 19 and the dollar depreciated 0.5%.

Venezuela and PDVSA fell as much as 2.5pts at their worst on CNN reports that the US has no plans to attack Venezuela, but rebounded to close -1pt in the session.

In Latin American credits, Ecuador rose 1pt, on a generally positive day for Latin American debt due to the advance in treasuries. Argentina fell 0.4pts.