Ecuador Bonds Tumble as Election Leaves ‘Worst-Case Scenario’
- Bonds due 2040 head for lowest since last year’s restructuring
- Ecuador likely to see runnoff between two left-wing candidates
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Ecuador bonds fell for a second day as Sunday’s presidential election threatened to throw the Latin American nation back into economic turmoil.
With less than 1% of votes left to count, Ecuador is heading for an April runoff between leftist Andres Arauz, with almost a third of the vote, and the indigenous party’s Yaku Perez, with 20.10%. To investors’ surprise, market friendly Guillermo Lasso is third with 19.49%, according to the National Electoral Council’s latest count.