Venezuela Bonds Rally After Move to Ease Dollar Shortages
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Venezuelan dollar bonds rallied the most in emerging markets after the country moved to allow for more dollar sales and amid optimism there will be a political fix to end protests that have left at least nine people dead.
The extra yield investors demand to own Venezuelan bonds instead of Treasuries fell 0.44 percentage point to 13.73 percentage points at 1:26 p.m. in New York, according to JPMorgan Chase & Co.’s EMBIG Diversified index. Dollar bonds due 2027 jumped 1.9 cents on the dollar to 68 cents, the highest price on a closing basis since Jan. 29.