Venezuela Says "Check Is In The Mail" As ISDA Default Looms

HFA Padded
Mark Melin
Published on
Updated on

In an apparent shell game with Venezuelan bond payments not appearing under any cup as of Tuesday morning, a Deutsche Bank report recommends investors move out to the long end of the oil-rich nation’s yield curve. With a deadline approaching to trigger an ISDA CDS default, no word on an actual payment has been heard as of Tuesday, the final due date. [klarman] Venezuelan oil giant says “check is in the mail” Venezuela’s state oil company, Petroleos de Venezuela SA (PDVSA), had a critical $842 million bond payment due October 27.  While they said the payment was made, perhaps the…

This content is exclusively for paying members of Hedge Fund Alpha

Log In

Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha

Don’t have an account?

Subscribe now and get 7 days free!

HFA Padded

Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.