BRAZIL: Limited trading. BRL closed stronger at 2.6726 supported by global equities and rumours that the BCB will keep the current FX swaps program. BCB placed the usual 4K in FX swaps and 10K to rollover the 2nd Jan FX swap maturity. In the Di market, curve inversion increased with Jan 17 rising 5bps to 12.93% and Jan 27 falling 2bps to 12.35. 5Y CDS was unchanged at 181. BOvespa closed the day weaker by 1.46% at 50,144.
MEXICO: In a day with limited volume MXN managed to make a 0.11% gain to close at 14.7158. Fix was set at 14.6965 putting the minimum intervention level for Monday at 14.9169. The spread between the 10y Mbono and UST was down 1bp to 368, while the 1y swap was down 1bps to 3.75%. 5Y CDS was unchanged at 93 while Mexbolsa was unchanged at 43,002. November trade balance came worse than expected at -US$1.08bn
ARGENTINA: Market closed for holidays
CHILE: CLP gained 0.22% to 607.95 despite weaker copper prices as FX swaps maturity supported the currency. 1y IRS was up 1bp to 2.93%. 5y CDS was unchanged at 83. IPSA gained 0.27% and settled at 3,822.
COLOMBIA: COP lost 0.39% to 2367.35 on falling oil prices. 1y IRS was unchanged at 4.51%. 5y CDS was unchanged at 126. IGBC lost 0.92% and settled at 11,875.
PERU: PEN lost 0.12% to 2.9785. However did not intervene. 10y yield was up 1bp to 5.40%. 5Y CDS was unchanged at 103. IGBVL recovered 0.91% to close at 14,675.