Venezuelan Bonds Crash To Lowest Price Since 1998 | WHAT REALLY HAPPENED

Venezuelan Bonds Crash To Lowest Price Since 1998

Bond prices in Venezuela have totally collapsed this morning - at 45c on the dollar, they are the lowest since 1998 - as the realization of the "abyss" they are staring into sparks an exodus from all credit positions in the country. VENZ 5Y CDS rallied 130bps which signals hedgers unwinding and the simultaneous sale of the underlying bonds implies broad-based capital flight (and profit taking) as 1Y CDS surges to record highs at 4830bps.

Webmaster's Commentary: 

Coming hard on the heels of the Greek problems and the US market being down, could this trigger a global sell-off?

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