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…
Venezuela Says "Check Is In The Mail" As ISDA Default Looms
Mark Melin
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.