Peru’s newly elected President Pedro Castillo appointed Pedro Francke, a moderate left economist, as finance minister on Friday, hoping to relieve markets. Castillo had earlier named members of his Marxist Free Peru party to cabinet positions with Guido Bellido named prime minister on Thursday, which initially raised investors’ concerns. Prime Minister Bellido later expressed his “full support” for the more moderate finance minister Francke, announcing their “work together for the country.” Markets remained on edge throughout Friday, awaiting Castillo’s appointment of the new finance minister. Peru’s currency, the sol, fell to a record low after the decision reporting its largest daily decline in more than seven years.

Peru’s 3.55% 2051s\ were down 1.36 to 100.208, yielding 3.54%

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