Ecuador Bonds Lead EM Gains After Anti-Gang Push Passes Key Test

Ecuador dollar bonds climb, leading emerging-market gains, after President Daniel Noboa gets backing for swath of security measures in referendum held on Sunday.

• Notes due 2030 gain about 1.4 cents to 52.6 cents on the dollar in early trading, best among peers
  • Bonds due 2035, 2040 also climb more than 1 cent each
• All nine of Noboa’s proposals to step up war on cocaine cartels passed easily, according to the quick count published by the electoral authority
• Voters, however, rejected proposals to liberalize the labor market and allow international arbitration for foreign investors in the country by large margins
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