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Ecuador’s dollar bonds continued to rise across the curve after voters backed a slew of security measures by President Daniel Noboa, in a referendum on Sunday. The president made nine proposals to fight drug and anti-mafia measures, and they were passed easily in a vote. Noboa is said to have had a pre-referendum approval rating of 70%. The above comes ahead of the elections next year where Noboa is still considered as the frontrunner. However, in the past, voters have rejected proposals to liberalize the labor market and have international arbitration for foreign investors.
Ecuador’s 6% 2030s were up 0.7 points to 69.7, yielding 13.28%.