Ecuador Bonds Outperform EM Ahead of Indigenous Group Election

Ecuador bonds climbed Friday, outperforming most emerging-market peers before the country’s Indigenous organization CONAIE is set to hold elections this weekend to choose its president and council.

• Sovereign notes gained across the curve, with the 2035s rising 0.7 cent on the dollar to 72.6 cents, according to indicative pricing data compiled by Bloomberg
• NOTE: The Indigenous vote is key for President Daniel Noboa to secure his win
• A faction of the group led by Leonidas Iza, who backed the socialist Luisa González in April’s presidential runoff, is “unlikely to win the election, which would be positive for governability” for the ...