A volatile session to start the week, with the Nasdaq falling more than 1% at one point, but ending in the green after a positive day in Asia and Europe. Treasuries closed with a slight bear flattener, with short-term bonds falling and medium- and long-term bonds closing flat, while in Europe we saw a 3-4bps drop in yields. Commodities saw widespread declines, most notably in gold and silver, which fell 2% and 4%, respectively.

Venezuela and PDVSA had limited volumes, with both curves trading at Friday'sclosinglevels.

In Latin American credits, we saw the region's leading names up 0.10-0.25 pts, with flow in Panama, which issued almost $3 billion at rates of T+140 and T+160 at 8y and 12y, respectively.