The Traderszone Network

Published in TZ Latest News 11 February, 2015 by The TZ Newswire Staff

Hit hard in Venezuela, U.S. bond funds keep their nerve

BOSTON/CARACAS (Reuters) – Many U.S. bond funds hammered by an almost 30-percent decline in Venezuelan bond prices last year have kept big bets there, even as the South American country struggles with food shortages, runaway inflation and plunging oil revenue. Though some portfolio managers including Pimco and Van Eck Global have pared their exposure in recent months, Venezuela remains among the largest positions for U.S. funds that focus on emerging market debt. Buttressing support for optimism is Venezuela’s reputation for paying its debts.

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