Venezuela Bonds Rally After Capriles Wins Primary: Caracas Mover
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Venezuelan bonds rallied after opposition candidate Henrique Capriles Radonski won more than 60 percent of the vote in a nationwide primary, a margin of victory that analysts said could strengthen his bid to unseat President Hugo Chavez in October elections.
The yield on Venezuela’s benchmark 9.25 percent bonds due in 2027 fell 30 basis points, or 0.30 percentage point, to 11.80 percent, the lowest since April 2010, at 3:30 p.m. in New York, according to data compiled by Bloomberg. The bond’s price rose 1.75 cents to 82 cents on the dollar.