Venezuela's 2027 Bond Jumps to Record High of 98.75

[bemildred]

For other Venezuela watchers.

Sept. 16 (Bloomberg) -- Venezuela's benchmark
bond maturing in 2027 rose to a record high as a
rally in oil prices boosted the foreign reserves of the
world's fifth-largest crude supplier.

The 30-year bond rose 2.25 cents on the dollar to
98.75, paring the yield to 9.38 percent, according to
JPMorgan Chase & Co. at 5:06 p.m. New York
time. The bond, which was first sold in September
1997, exceeded the previous record price of 97.81
set on Oct. 7, 1997.

``The Venezuelan economy is in a strong position
according to practically any indicator used to
measure its performance,'' said Jose Cerritelli, an
analyst with Bear, Sterns & Co. in New York.
``This explains why bond prices have held up so
well over the past month despite a very conflictive
political situation.''

Venezuelan President Hugo Chavez, who defeated
a vote to recall him last month, survived a two-day
coup in 2002 and an opposition-led two-month
national strike that ended in February 2003, which
cost the economy $10 billion, according to the
government.

Bloomberg

[ret5hd]

1. But...

I thought all the investors were going to LEAVE Venezuela if Chavez was re-elected. I thought there was going to be a mass migration out of the country, financial and population.

What are those 2 or 3 DU'ers saying now?

:toast: Viva Chavez! :toast:
Defender of the poor.