With the focus of the week on the widely expected rate cut by the Fed on Wednesday, risk assets had a positive day, with the Nasdaq gaining up to 1% and the S&P500 0.85%, rising alongside European and Asian indices that lagged slightly. At the same time, rates fell slightly in the US and Europe, seeing -3bps average. In commodities, energy and metals rose 1% on average, while coffee rose 5% and is approaching its all-time high. Despite the rise in indices, the VIX rose to 15.75.

Venezuelan debt eased slightly with little volume, amid statements by Maduro that talks with the U.S. are "broken".

In Latin American credits, Argentina continues to have a strong selling wave, dropping 2pts average curve today as did BUENOS; while on the other hand, Ecuador rose 0.75pts after they announced the end of the diesel subsidy for some sectors.