Ecuador Bonds Plunge as Socialist Candidate Forces Runoff (2)

Ecuador’s dollar bonds tumbled the most in two years after socialist challenger Luisa González did better than forecast in this weekend’s presidential election, likely forcing President Daniel Noboa into an April 13 runoff.

Bonds slumped across the curve, with notes due 2030 down more than 8 cents on the dollar to about 70 cents, on track for the lowest close this year. They were by far the worst performers in emerging markets.

With 92% of ballots tallied, Noboa had 44.3% of votes and Gonzalez 43.8%. The results are a blow to the investors who bid up the price of ...