Venezuela will likely stay current on its
debt and make about $3 billion in payments next week, according to some
investors and bondholders, voicing guarded optimism even amid worsening turmoil
for the country. Venezuela bond bulls have come under pressure since the
country’s Supreme Court stripped all powers from its Congress in a ruling last
week, a power grab that drew widespread condemnation and sent its traded debt
to nine-month lows, even sinking after the court reversed the move. So far,
betting on Venezuelan bonds has tended to pay off for investors able to
separate the government’s steady ability to honor payment deadlines from widespread
concern about its stability and economic stewardship. More…
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