Pablo Salame, co-chief investment officer of Citadel, said the enormous capital demand behind the AI revolution clashes with lenders unwilling to take on that risk, forcing a reconciliation between investors and creditors. "The rising tide of AI will sink some boats," he said. Citadel manages US$77 billion in assets. Salame said the credit market "hasn't finished readjusting" and that 30-year credit spreads seem "a bit fanciful."
The wholesale dollar fell to $1,537 on Tuesday, erasing part of the rise seen at the start of the week after the fallout from Brazil's runoff election hit financial markets. The CCL and MEP rates also pulled back, while the blue dollar held at $1,575. Bonds rebounded strongly and country risk returned to around 750 basis points. Stocks remained under pressure, with ADRs trading mixed and the MSCI Merval in negative territory.
The official dollar traded on Tuesday, October 27 at 1,510 pesos for buying and 1,560 for selling at Banco de la Nación Argentina, while the blue dollar operated at 1,555 and 1,575 in the City of Buenos Aires. The retail rate stood at 1,560.4 for selling according to the BCRA daily average. The crypto dollar traded at 1,654.22 at 18:22, a 6.04% gap to the official rate, and country risk fell to 758 basis points.
The Central Unitaria de Trabajadores (CUT) will seek a double-digit increase to the 2027 minimum wage at the Wage and Labor Policy Concertación Table, according to its representative Nelson Alarcón, to recover purchasing power and guarantee a living wage. Professor Giovanni González of Universidad Javeriana called for also analyzing business competitiveness and regional differences. Credicorp projects a rise of 9% to 10%, Davivienda a maximum of 8.5% and Fenalco asks for a maximum of 9%.
The Colombian Council for Sustainable Construction (CCCS) and the Construction Industry Association of the Jinniu District, in Chengdu, signed a four-year technical cooperation agreement. The deal covers six areas: construction and urban development, city renewal, high-quality housing, sustainable solutions, urban and rural infrastructure, and digital construction. It includes seminars, training, field visits and information exchange, following the 2026 Business Mission to China led by Compensar. The signing does not imply immediate financing or automatic execution of projects.
On Tuesday, October 27, the official dollar closed unchanged at Banco Nación at 1,510 pesos for buying and 1,560 for selling, while the blue dollar also ended the session unchanged at 1,555 and 1,575. Argentina's Central Bank did not intervene in the foreign exchange market for a second consecutive day and international reserves closed at US$50.580 billion. The MSCI Merval index fell 2.4% to 96,886.69 units and country risk stood at 748 basis points.
Copper regained momentum: the three-month contract on the London Metal Exchange reached US$14,490.50 per tonne, its highest level since October 16, while COMEX copper has gained about 18.2% so far in 2026. The Yangshan premium, a reference for Chinese appetite for imported metal, reached around US$188 per tonne, its highest in nearly 13 years, while Shanghai Futures Exchange inventories fell about 26.5% to 54,356 tonnes.
After Luiz Inácio Lula da Silva's reelection, the dollar rose 8.79% against the real to 5.4154 reais, and agricultural prices fell. Sugar dropped 5.63%, arabica coffee 2.11% and soy 1.26%, while corn slipped just 0.22%. A weaker real lets Brazilian exporters receive more reais per dollar, which can encourage forward sales and pressure international prices. Brazil accounts for 61.5% of world soy exports and 53.9% of sugar exports.
The dollar in Colombia opened on October 27, 2026, at 3,145.00 pesos and closed at 3,147.40 pesos, an increase of 2.4 pesos, according to the Banco de la República. The Market Average Rate stood at 3,147.918 pesos, with trades worth 1,466.519 million dollars during the session, and the Representative Market Rate was 3,157.94 pesos, 0.49 pesos lower than on October 26. Exchange houses posted average buying rates of 3,170 pesos in Bogotá, 3,100 in Cali, 3,750 in Cartagena and 3,060 in Medellín.
ANIF president José Ignacio López said the fiscal rescue bill the government expects to present this week should focus on reducing public spending and improving the efficiency of state resources. While he acknowledged revenue measures may be needed, he asked that they not be the core of the adjustment. ANIF proposed eliminating some tax deductions and said minimum wage negotiations should start from technical criteria. The association projects inflation of 6.6% by the end of 2026.
According to Aon's Global Medical Trend Rates Report 2027, the cost of employer-sponsored health plans and medical benefits in Colombia would rise by close to 9% in 2027, above the projected general inflation of 5.2%. The analysis focuses on coverage contracted by organizations and does not imply an automatic increase for EPS health insurers or individual prepaid medicine. Latin America is projected to see an average increase of 10.4%.
The dollar closed on Tuesday at COP 3,147.40, after falling to COP 3,130 on Monday and closing at COP 3,145 on Friday, October 23. The TRM stood at COP 3,157.94, 0.02% less than the previous day. Analyst Diego Sogamoso noted that the currency trades below its 50-day moving average, around COP 3,173. External factors include the Federal Reserve meeting, the Brent price and Lula's victory in Brazil.
Brent held on Tuesday in a range of $114 to $117 per barrel, while December WTI traded at $101. Talks between Iran, Saudi Arabia, Turkey and Pakistan to reduce tensions support short-term declines, but new Houthi attacks on Saudi Arabia keep attention on risk to production and transport. Goldman Sachs estimated that around $27 per barrel reflected a risk premium.
Financial markets closed Tuesday's session with optimism around artificial intelligence and relief from falling oil prices. The S&P 500 rose about 0.6% and the Nasdaq more than 1.1%, driven by chipmakers; the Dow Jones closed nearly flat. Broadcom gained 4% after a $63 billion financing from a bank consortium to buy its chips intended for Anthropic, and Oracle rose almost 5%. Investors await the Federal Reserve's decision on Wednesday.
Wall Street closed higher on Tuesday, driven by optimism around artificial intelligence and a nearly $2 drop in oil prices. The S&P 500 rose about 0.6% and the Nasdaq more than 1.1%, while the Dow Jones ended roughly flat. Broadcom gained 4% after a $63 billion financing from a bank consortium for chips destined for Anthropic, and Oracle rose almost 5%. Investors await the Federal Reserve's decision on Wednesday.
The Nasdaq 100 gains 1.02%, extending a rebound led by semiconductors, with the SOX index up 3.2% in its third straight session of gains. Artificial intelligence remains the catalyst, following Anthropic's prospectus for a Nasdaq listing and the $63 billion in financing secured by a consortium of banks and Blackstone for Anthropic's purchase of Broadcom technology. Brent falls below $114.
DoorDash is finalizing the acquisition of its rival Instacart for $15.2 billion, according to The Wall Street Journal, which says the deal could be announced this week although there is no guarantee the talks will succeed. Instacart, which went public in 2023, rose nearly 8% on Monday after the report and has a market value of around $14.3 billion. DoorDash is valued at about $74 billion, five times more. The deal would strengthen its food and grocery delivery business.
The U.S. dollar closed the October 27 session in Colombia at 3,147 pesos after fluctuating during the day. Against the TRM set by the Financial Superintendency at 3,157 pesos, the currency posted a 10-peso decline. The session opened at 3,145, hit a high of 3,172 and a low of 3,117, with an average price near 3,148. About 1.355 billion dollars were traded on the Colombian Stock Exchange.
Colombia's currency market opened this Tuesday with a new drop in the dollar, which stood around COP 3,135.20 and traded near COP 3,111 in the first moves of the session, below the day's TRM of COP 3,157.94. The decline benefits those paying for imported goods, making international purchases or planning trips abroad, while it can reduce the peso income of exporters and of those receiving remittances or payments in US currency.
Jamie Dimon, CEO of JPMorgan, identified five risks that could shake US stock and bond markets: large fiscal deficits, persistent inflation, high asset prices, rising interest rates and geopolitical tensions. The warning came with the bank's third-quarter results, as Wall Street awaits another Federal Reserve rate decision. The bank says the US economy remains strong.
