Vene Bonds Tighten on Chavez News

Vene Bonds Tighten on Chavez News

Venezuela Economy & Policy Bonds

Venezuela’s bonds tightened Monday as Hugo Chavez hinted at the possibility he may be incapacitated due to deteriorating health and named Vice President Nicolas Maduro as his chosen successor. The benchmark 2027s tightened 100bp to 8.3%, according to Bulltick Capital. “A change at the presidential level could sustain the current downward trend in yields,” the shop says in a note, bringing Venezuela closer to single B credits including Ukraine (yielding 6.9%), Egypt (5.5%), and Mongolia (5.7%). V

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