Venezuelan Bonds Rally on Chavez Health Concerns: Caracas Mover
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Venezuelan bonds rallied on speculation President Hugo Chavez’s health is worsening after a columnist for El Universal newspaper said that he may have traveled to Cuba for medical tests related to cancer.
The yield on Venezuela’s benchmark 9.25 percent bonds due 2027 fell 6 basis points, or 0.06 percentage point, to 11.82 percent at 10:43 a.m. in New York, according to data compiled by Bloomberg. The bond’s price rose 0.38 cent to 81.88 cents on the dollar.