Venezuelan Bonds Rally as Government Said to Own 25% of Debt

  • Bonds gain on view government's ownership cuts default risk
  • Marco Torres told creditors government owns 20%-25% of bonds

Venezuelan bonds rallied after Finance Minister Rodolfo Marco Torres was said to have told investors in New York that government entities own about a quarter of the nation’s foreign bonds, spurring optimism that the nation will avoid default in the near-term.

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