Bets on Venezuela Transition Emerge Despite Market Skepticism
- Recent polls bolster case for a surprise opposition victory
- Gonzalez and Maduro vie for presidency in July 28 election
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Markets are overlooking odds that next weekend’s election ushers in regime change in Venezuela for the first time in decades, according to Barclays Plc.
Opposition candidate Edmundo Gonzalez is drawing large crowds at campaign rallies and holds a 20-point lead in polls ahead of the July 28 vote. While the odds are stacked decidedly against the election bringing an end to Chavismo, Barclays analyst Alejandro Arreaza said Gonzalez’s position gives him a “real chance” of getting enough votes to pressure President Nicolas Maduro to concede.