Economics
Venezuela Bonds Fall as Harvard Team Says Default Likely
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Venezuela’s bonds declined to a three-year low after oil fell and Harvard University economists Carmen Reinhart and Kenneth Rogoff said the South American country will probably default on its foreign debt.
The price on the country’s benchmark dollar bonds due 2027 tumbled 2.4 cents to 62.17 cents on the dollar at 1:45 p.m. in New York, the lowest level since October 2011. Yields climbed