The market continues to move to Trump’s tune, buoyed today by a statement he released this morning in which he said he is negotiating with Iran and that there will be no attacks for the next five days—after stating over the weekend that he would strike Iran harder if they did not open the Strait of Hormuz within the next 48 hours. Crude oil fell 11%, with WTI settling at $88 and Brent at $100, while interest rates dropped 5–8 basis points globally; meanwhile, U.S. and European equities rose as much as 1.5% on the news. The VIX fell to 25, and the dollar depreciated 0.5% to 99 on the DXY.

Venezuela and PDVSA fell by 0.25 points across both curves, with a significant drop in trading volume, as selling pressure was seen in the long-term sovereign bonds and PDVSA’s medium-term bonds.

Latin American bonds recovered some of Friday's losses, led by Argentina, which rose 1 point, while the rest of the region gained 0.3 to 0.6 points.