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Bond Market News
Ecuador’s Dollar Bonds Jump on Noboa’s Electoral Win
April 15, 2025
Ecuador’s sovereign dollar bonds surged higher after President Daniel Noboa was declared the winner of Sunday’s election, securing a full four-year term. Despite opposition candidate Luisa González refusing to concede and demanding a recount, Noboa’s wide lead of 55.7% to 44.4% with nearly 97% of votes counted, has been recognized by several foreign governments and key officials in González’s own party. Noboa now faces the urgent task of tackling rampant crime rates that have risen over the past five years. The rally in Ecuador’s dollar bonds reflects investor optimism with Noboa’s victory being seen as a mandate to push economic reforms, especially in mining and oil. Earlier, Ecuador’s dollar bonds were among the worst performers across developing nations this year, with yields soaring to almost 35% after González did much better than polls had forecast in the first round of elections.
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