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Colombia Bonds Drop Most in 5 Months on Surprise Rate Increase

Colombia’s bonds declined the most in five months after policy makers unexpectedly increased the target lending rate amid signs of an economic rebound and a pickup in inflation projections.

The price on bonds due in 2024 sank 1.14 centavo to 126.3 centavos per peso at the close of trading in Bogota, according to data from the central bank, the steepest one-day drop since Nov. 8. The yield on the securities rose 13 basis points, or 0.13 percentage point, to 6.41 percent. The peso gained 0.2 percent to 1,938.27 per dollar.