Negative Outlook for Vene on Wide Chavez Victory

Negative Outlook for Vene on Wide Chavez Victory

Venezuela Bonds

A wider-than-expected margin of victory for President Hugo Chavez in Venezuela’s presidential elections should mean increased pressure on Venezuelan assets, analysts say. With today the first session of open US markets following the election – which Chavez was estimated to have won by 10% – at least some degree of selloff was expected. “We expect a knee-jerk reaction of downward pressure on Venezuelan bond prices, and if President Chavez decides to deepen his ‘XXI Century Socialism’, we would ex

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