Bonds
Ecuador Bonds Plunge as Socialist Candidate Forces Runoff
- González has 43.8% of votes versus 44.3% for President Noboa
- Indigenous votes may be decisive in deciding a close runoff
Luisa González in Quito, on Feb. 9.
Photographer: Galo Paguay/AFP/Getty ImagesThis article is for subscribers only.
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.