Treasuries fell across the curve, with yields rising by an average of 4bps, slightly more than European sovereigns, amid a recovery in equities in the US and Europe, while in Asia we saw declines of up to 2%, lagging behind the effect of Friday's US declines. Commodities saw sharp movements again, with crude oil, gold, and silver falling nearly 5%, while natural gas fell as much as 25%. The dollar appreciated 0.5%, and the VIX fell to 16.4.

In Venezuelan bonds, we saw demand for high-coupon securities both in Venezuela (22s, 26s, 31s) and PDVSA (22s, 35s), gaining 0.3 pts, with the rest of the curves up 0.10 pts.

Latin American credits saw little movement, with Costa Rica rising 0.5 points and the rest of the region mixed at 0.25 points.