Venezuelan Debt Tumbles Most Since 2008 After Chavez Re-Elected
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Venezuela’s benchmark bonds plunged the most in four years as President Hugo Chavez’s re-election fueled concern he will extend government controls that have deterred investment and led to the region’s highest inflation.
The government’s bonds due in 2027 fell 4.61 cents, the most since October 2008, to 86.63 cents on the dollar at 4:10 p.m. in New York, according to data compiled by Bloomberg. Yields on the dollar-denominated bonds rose 69 basis points, or 0.69 percentage point, to 11.10 percent