Markets ‘Whistling Past Graveyard’ on Venezuela, Says PGIM’s Collins

Venezuelan bonds are poised to gain after the US captured President Nicolás Maduro, setting the stage for potential regime change.
The prospect of a potential debt restructuring could fuel further gains, although a resolution for Venezuelan debt could prove tricky, with the country having to unwind a web of defaulted bonds, loans and legal judgments owed to creditors. PGIM Managing Director and Executive Portfolio Advisor Michael Collins joined Carol Massar and Tim Stenovec on ‘Bloomberg Businessweek Daily’ to break it down. (Source: Bloomberg)