Venezuelan Rout Deepens as Default Specter Raised

Venezuelan debt traders are beginning to consider the possibility the country may run out of money. The cost of insuring the country’s foreign-currency bonds against nonpayment soared on Tuesday by the most since the aftermath of Lehman Brothers’ collapse in 2008 to 14.25 percentage points, the most expensive in the world. Investors are also demanding the biggest premium in six months to insure the South American nation’s notes over those from war-torn Ukraine. More…