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Bond Market News
Colombia’s and Ecopetrol’s Dollar Bonds Rally on Espriella’s First-Round Win
June 2, 2026
Dollar bonds of Colombia and Ecopetrol rallied by over 2-3 points after Abelardo de la Espriella secured a surprise victory in the first-round presidential vote. He is considered to be a right-wing outsider, commentators noting that he will become the clear favorite in the upcoming June 21 runoff against the left-wing candidate Ivan Cepeda. Espriella captured 43.7% of the vote, defeating Cepeda (40.9%) and positioning himself to absorb the votes of third-place conservative Paloma Valencia. Analysts noted that investors are highly optimistic about a pro-business regime change after four years under current President Gustavo Petro. They expect Espriella’s pledges to curb spending, cut taxes, protect central bank independence, and implement a military crackdown on drug trafficking, viewing his platform as a key pathway to fiscal consolidation. Regarding Ecopetrol, analysts expect Espriella to allow new oil exploration and encourage fracking, something Cepeda has opposed.
Colombia’s 8% 2035s were up 2.1 points to 108.9, yielding 6.7%. Ecopetrol’s 8.375% 2036s rallied by 2.8 points to 105.3, yielding 7.6%.
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