A monthly Bloomberg News survey revealed a jump in recommendations to buy lower-rated local corporate debt.

Jaime Achondo, general manager of our brokerage firm, told Bloomberg that "the market's greatest risk was that the Fed's contractionary cycle would be accentuated, a risk that has been diminishing and consequently risk appetite has been increasing".

He added that "given how disinvested the portfolios are, mainly positioned in money markets, we believe this trend should continue".