Petrobras, Bond-Market Pariah, Suddenly Captivates Deutsche Bank
- Some shorter-dated notes yield more than longer-term bonds
- World's largest junk issuer has most of its debt due by 2021
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For much of the past year, Petroleo Brasileiro SA’s unrelenting rout has pushed down bond prices to new lows day after day.
Now, Deutsche Bank AG is finally starting to see value in the state-controlled oil producer’s debt.