By Drew Benson
Feb. 4 (Bloomberg) -- Chile’s peso climbed for a second day as global stock markets rose, boosting investor demand for higher-yielding emerging-market assets.
“There is a sense of tranquility, optimism today and that generates risk appetite,” said Ricardo Gomez, head of fixed- income sales and trading at Larrain Vial SA in Santiago. “You look at the screen and there is a lot of green, not so much red; stocks are higher, commodities, too.”
Chile’s peso climbed 0.6 percent to 617.5 per dollar as of 8:45 a.m. New York time, from 620.95 yesterday.
Stocks in Europe and Asia rose as companies reported better-than-estimated profits and governments stepped up efforts to revive growth. The MSCI World Index of developed-nation stocks increased 0.4 percent, while the MSCI Emerging Markets Index gained 1.8 percent.
The yield for a basket of five-year peso bonds in inflation-linked currency units, known as unidades de fomento, dropped two basis points to 2.56 percent, its lowest since May 23, according to Bloomberg composite prices.
In Colombia, the peso slid for a seventh day, falling 1.2 percent to 2,486 per dollar, from 2,455.8 yesterday, according to the Colombian foreign-exchange electronic transactions system, known as SET-FX.
The yield on the nation’s benchmark 11 percent bonds due in July 2020 was little changed at 9.785 percent, from 9.781 percent yesterday, according to Colombia’s stock exchange.
Colombia is scheduled later today to announce the results of a swap that gives investors peso-denominated notes due between 2012 and 2018 in exchange for securities maturing between 2009 and 2011.
To contact the reporter on this story: Drew Benson in Buenos Aires at Abenson9@bloomberg.net
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