Venezuelan Bonds Advance as Oil Prices Climb to Record High

Source: Bloomberg

April 16 (Bloomberg) -- Venezuelan bonds rose as oil, the country's biggest export, surged to a record high, swelling government coffers.

The yield on Venezuela's benchmark 9 1/4 percent bonds maturing in 2027 fell 5 basis points, or 0.05 percentage point, to 9.59 percent at 9:44 a.m. in New York, according to Bloomberg data. The bonds' price rose 0.36 cent on the dollar to 97 cents. The extra yield investors demand to own Venezuelan debt over Treasuries narrowed 14 basis points to 5.84 percentage points.

Oil rose to a record $114.53 a barrel today, part of a commodities rally that has driven the UBS Bloomberg Constant Maturity Commodity Index of 26 raw materials up 36 percent in the past year.

``The commodity complex is providing a nice supportive leg for emerging markets,'' said Nick Chamie, head of emerging-market research at RBC Capital Markets in Toronto. ``Higher commodity prices are helping offset the gloom and doom in housing.''



Read more: http://www.bloomberg.com/apps/news?pid=20601086&sid=aZT6mG71F4CQ&refer=news

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:popcorn:

...dancing on our heads along with all of the Big Oil company executives.

How much does that make the Iraqi oil reserves worth now, let see....according the Brookings Institute scientists there are 215 bbl of know oil in Iraq times $114.53 means we've stolen $246.2395 trillion or about one third of the total capitalized $750 trillion debt owed by U.S. banks. So we still can't pay off the debt created by Greenspan's financial derivatives and SIVs and DBOs pyramid scheme :wtf: