Venezuela Bonds Plunge After Bolivar Weakened For Travel

Venezuela devalued its currency for airline ticket purchases and foreign direct investment to halt a hemorrhaging of dollars that has pushed international reserves to a 10-year low. Bonds fell. ..... The country’s benchmark dollar bond due in 2027 fell to 69.53 cents on the dollar at 8:16 a.m. in New York, extending losses on the South American nation’s debt to 5 percent this year, according to JPMorgan Chase & Co.’s EMBIG index. The yield on the securities rose 91 basis points to 14.41 percent, the highest since November 2011. More...