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Colombian Peso Bonds Plunge as Inflation Surges Past Target

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Colombian peso bonds fell as traders pared bets on interest-rate cuts after inflation unexpectedly breached the upper limit of the central bank’s target range.

Local government bonds, or TES, due 2016 fell 0.27 centavo to 102.83 centavos as of 9:14 a.m. in Bogota after the national statistics agency published its February inflation report Thursday evening in Bogota. Yields rose 0.21 percentage point to 4.88 percent, the highest level since Jan. 13.