Colombia Equity Strategy Right Wing Surge Ahead of Runoff

Research evidence excerpt

Colombia Equity Strategy Right Wing Surge Ahead of Runoff

J P M O R G A N Global Markets Strategy

15 June 2026

Colombia Equity Strategy

Right Wing Surge Ahead of Runoff

We would like to highlight the latest note from our Economic Research Team on LatAm Equity Strategy

ACColombia (see here), which analyzes the final polling landscape ahead of the June Diego Celedon

21 presidential runoff. With just days remaining, the market’s focus has shifted (56-22) 425-5245

from first-round uncertainty to the decisive momentum favoring Abelardo de la diego.celedon@jpmorgan.com

Espriella. Recent polls show de la Espriella leading with approximately 51-53% Inversiones J.P. Morgan Limitada

of vote intention, while Iván Cepeda trails at around 43-45%. This marks a notable Emy Shayo Cherman

shift from earlier scenarios in which Cepeda was the favorite, as right-wing support (55-11) 4950-6684

emy.shayo@jpmorgan.com

has consolidated and center-left endorsements remain fragmented. The altered Banco J.P. Morgan S.A.

risk-reward profile for Colombian equities reflects improved investor sentiment as

Adrian E Huerta

political clarity emerges. While institutional risks and policy direction remain in (52-81) 8152-8720

play, the note underscores that the outcome will be pivotal for fiscal discipline, adrian.huerta@jpmorgan.com

external relations, and sectoral dynamics. In terms of equities, we see Energy as the J.P. Morgan Casa de Bolsa, S.A. de C.V., J.P.

sector with the clearest structural change in case policy direction change Morgan Grupo Financiero

materializes.

Table 1: Key Event’s TableFor additional information about the candidates, please refer to our First Election

Countdown (see here), in which we describe who is who in this presidential race. Event Dates

May