Gold and silver captured the market's attention once again today, falling 9% and 27%, respectively, abruptly breaking the rally they had been enjoying in recent weeks. US and Asian equities also fell, while European equities rose slightly. For their part, Treasuries largely dismissed the news that Kevin Warsh will be nominated as the new Fed chair, seeing a slight bull steepener, which steepened the curve by 5bps and confirmed two 25bps cuts this year in futures.

Venezuela and PDVSA remained solid throughout the day, particularly sovereign bonds, which rose 0.5 points, while PDVSA ended 0.25 points higher.

In Latin American credits, Costa Rica and the Dominican Republic gained 0.5 points, while the rest of the region was mixed at 0.25 points, with considerable volume on Ecuador's curve in particular.