The yield on the benchmark Colombian peso-denominated debt fell on Monday after January inflation data came out in line with expectations.
The yield on the 20-year peso-denominated bond, known as TES, fell to 8.863% from 8.922% on Friday. The yield of a bond moves inversely to prices.
The Colombian statistics department said Friday after the market had closed that consumer prices rose 0.69% in January, which was close to the 0.59% market consensus.
“In the last days of last week, some people started to fear a high inflation data in January,” German Verdugo, a market analyst with local brokerage Correval, said.
“After the number came out, investors realized the 12-month inflation at 2.10% is still well in line with the Central Bank’s target,” he added.
On the currency market, the peso strengthened to 2,003.5 Colombian pesos to the dollar, from COP2,008.4 on Friday.
The IGBC stock index rose 0.1% to 11,234.23 points.
The shares of holding company Inversiones Argos SA fell 1.2% to COP18,580, while preferred shares of the country’s largest bank Bancolombia SA fell 0.8% to COP10,740.
Shares of financial holding Grupo de Inversiones Suramericana SA rose 2.1% to CPP24,900.
(Inti Landauro, Dow Jones)
