, Columnist
It's Hard to Quit Venezuela
The dictator is loathsome and the people are suffering, but it's tough to overlook that yield.
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The U.S. wants bond buyers to hate Venezuela's debt. So do many human rights activists, who are appalled by the nation's collapse into hunger and civil unrest under its oppressive ruler.
And yet investors have actually been warming up to Venezuelan bonds in the past week. The nation's dollar-denominated debt has gained nearly 1 percent in the period, while notes of the state-owned Petroleos de Venezuela have returned 1.7 percent. These gains come despite increasingly venomous language from the White House that culminated on Friday with an announcement of new sanctions, which target the nation's securities.