Chile: The reasons for the fall in local long yields in 2014: the tipping point is close

Summary

Long term yields have shown huge falls over the course of this year. We estimate the impact on the performance of long-term yields (BCP-10) this year of both the change in international yields and the disappointing activity figures published to date, since a correct understanding and evaluation of what has happened will answer questions such as whether these yields are close to reaching their floor and will subsequently move upwards, or whether they will remain at low levels for a prolonged period of time.

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