Venezuela bond traders ignore Goldman outrage

Venezuela, PDVSA, protests, LatAm
By Oliver West
01 Jun 2017

Goldman Sachs sparked the ire of Venezuelan opposition supporters and several bond investors this week as it bought $2.8bn of PDVSA bonds at a hefty discount that put the yield at 40%.

Venezuelan and PDVSA bonds — which offer anywhere from 15% to 38% at various points on the curve — were up and down this week as volatility hit oil prices, but the Goldman episode had no tangible effect on trading.

“Bonds have been slipping because oil has been slipping, ...

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