COP – COP performed well throughout the NY session today, alongside the rest of the LATAM complex on a broadly weaker USD. USDCOP tested 3958 short-term support a few times throughout the day, but stayed mainly rangebound trading around the 3940-3960 range. In terms of flows we saw COP inflows from RM names in cash, with little activity in the NDF space, as well as outflows from HFs and USDCOP selling from corporates.