Fears of a Big Venezuela Default Subside
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Investors are gaining confidence that Venezuela will make its next big bond payments.
Notes from the state oil company that mature in November climbed to 94.5 cents on the dollar Wednesday, a three-year high, while amortizing bonds due in 2020 rose to their highest price since they were issued last year. There’s a $985 million payment due Oct. 27 for the 2020 bonds, and $1.2 billion due Nov. 2 on the securities maturing next month.