Ecuador Bond Spreads Widen To One-Year High

The spread on Ecuador’s benchmark dollar bonds widened to 666bp on Friday, as measured by JPMorgan’s EMBI+ index, climbing 54 points to reach a one-year high. Yields on the sovereign’s global 2015 bond leapt to 10.783% on the back of comments from the economic team of president-elect Rafael Correa regarding talks with bondholders about restructuring the country’s foreign debt.