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Peru Selloff Abates With Leftist Seeking to Reassure Investors

  • Bond prices rebound, erasing about half of yesterday’s losses
  • Leftist front-runner seeks to calm investors after Monday rout
Pedro Castillo speaks during a campaign rally in Lima on May 27.
Pedro Castillo speaks during a campaign rally in Lima on May 27.Photographer: Miguel Yovera/Bloomberg
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Peruvian markets rebounded from Monday’s losses as the leading presidential candidate sought to reassure investors who were preparing for a drawn-out count of Sunday’s vote.

Benchmark bonds pared more than half of the decline as the leftist Pedro Castillo, who has an 80,000-vote lead with more than 95% of ballots counted, sent a statement saying he would pay the country’s debt and keep central bank independence. The sol and the main stock gauge edged higher.