Venezuelan Bonds Decline to Two-Week Low as Crude Oil Plummets
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Venezuelan bonds, the worst-performing in emerging markets last year, fell to a two-week low amid a plunge in crude oil.
West Texas Intermediate oil dropped below $50 a barrel for the first time since April 2009. Venezuela’s benchmark bonds due in 2027 decreased 3.75 cents to 43.50 cents on the dollar, set for the lowest since Dec. 17. Petroleos de Venezuela SA’s bonds maturing in 2017 slid 3.51 cents to 53.13 cents on the dollar.