Ecuador’s dollar bonds fellAfter the socialist candidate Luisa González obtained better results of the provisions of the presidential elections of this weekend, which probably Forced President Daniel Noboa to a second round on April 13.
The bonds collapsed throughout the curve in the first operations, and the bonds expiring in 2030 lost more than 7 cents per dollar. They were, by far, the worst in emerging markets.
The latest data from the electoral authority show that Noboa has 44.3% and González 43.8% of the votes. The results are a hard blow to investorsthat they had uploaded the price of the country’s sovereign bonds in recent weeks, believing that Noboa had good chances of winning in the first round.
González, 47 and former legislator, He requested a strong welfare state and more investment in public works programs. Investors distrust their Citizen Revolution Party since their mentor, Rafael Correabreached with the payment of the national debt in 2008.
