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Colombia Yields Falls on Liquidity Search After Interbolsa

November 08, 2012

Colombia’s peso bond yields rose as investors sold the securities to increase cash holdings after the collapse of the Andean nation’s biggest brokerage.

The yield on Colombia’s 9.25 percent peso-denominated debt due in May 2014 rose three basis points, or 0.03 percentage point, to 4.93 percent, according to the central bank. The price fell 0.057 centavo to 106.099 centavos per peso.

Finance Minister Mauricio Cardenas said yesterday that regulators will liquidate Interbolsa SA’s brokerage after it failed to meet a loan payment last week.

“Investors have been selling assets, searching for liquidity” following Interbolsa’s collapse, said Jorge Cardozo, an analyst at Corredores Asociados brokerage in Bogota. “Trading volume is low but little by little we are starting to see things pick up again.”

Colombia’s central bank began yesterday offering 300 billion pesos ($165 million) of 14-day repurchase agreements to boost liquidity, accepting securities including corporate bonds as collateral. Today 4 billion pesos of the repos were taken by investors, while none were taken yesterday.

The peso erased an earlier drop, gaining 0.2 percent to 1,810.25 per U.S. dollar. The currency has strengthened 7.1 percent this year.

To contact the reporter on this story: Andrea Jaramillo in Bogota at

To contact the editor responsible for this story: David Papadopoulos at

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