Indications of an agreement between the US and the European Union on tariffs led to an advance in global equities, with major indices gaining 0.5-2%, led by the Japanese Nikkei and France's CAC 40; while rates rose in risk-on, bear flatteners that left short bonds performing worse (+6bps yields) than long bonds. In commodities, metals and agriculture fell slightly, while crude oil finished flat. The dollar depreciated 0.20% as it fell for the 4th day in a row, while the VIX closed at 15.46, its lowest level since February.

Venezuela and PDVSA declined 0.10pts on light volumes.

In Latin American credits, Pemex once again stood out, rising by 0.75pts, in what was otherwise a very quiet session for emerging market fixed income, with the main names with mixed results of 0.25pts.