(Reuters) - Bonds issued by the Venezuelan government crashed on Friday as political tensions escalated following the annulment of the country's legislature by its high court earlier this week, a move that ignited protests and international condemnation. The price on Venezuela's benchmark $4 billion bond maturing in September 2027 with a 9.25 percent coupon fell by more than 3.5 cents to around 46.4 cents on the dollar, Thomson Reuters data showed. Its yield, which moves in the opposite direction of price, shot up by 1.55 percentage points to nearly 23 percent, the highest since last August. It was the largest one-day rise in yield since October. The country's high court late Wednesday stated it was assuming Congress' role in a ruling authorizing President Nicolas Maduro to create oil joint ventures without the previously mandated congressional approval. The move was met with international condemnation and street protests, and on Friday the fallout intensified when Venezuela's attorney general broke ranks with Maduro and rebuked the judiciary for its move. Some longer-dated bonds were even lower in price. The less widely traded March 2038s, with a 7 percent coupon, were bid at 40 cents on the dollar, down from 42.6 cents on Thursday. Their yield rose to 18.22 percent from 17.17 percent. "People saw risk worsen and went out to sell. But there are some people buying, few, but they're buying," said a bond trader in Caracas, asking to remain anonymous to avoid hurting business. "I hope they pick up again given there are interest and capital payments soon." The country faces payments of nearly $3 billion in April on bonds issued by the government and Petroleos de Venezuela SA, or PDVSA, the state-sponsored oil company. Most of that is due around mid-month as PDVSA's April 2017 5.25 percent note matures, requiring a combined interest and principal payment of $2.5 billion. Maduro's government has pledged to remain current on its credit. It faces another big block of payments in both October and November, though one research firm said it was optimistic it would be able to meet those obligations. "While most market participants seem confident about state oil company PDVSA's ability to pay its April maturities, many investors remain worried about the October/November payments," analysts at Oxford Research wrote in a report on Friday. "Our analysis shows that although the financial situation remains very tight, the country can bridge its external financing gap during 2017." (Writing by Dan Burns; Reporting by Alexandra Ulmer and Corina Rodriguez Pons in Caracas and Sujata Rao-Coverley in London; Editing by Jeffrey Benkoe and Chizu Nomiyama)
- The Daily Beast
Photo Illustration by Kelly Caminero / The Daily Beast / GettyAt the risk of awarding the title prematurely, we think we’ve found the weirdest study published in 2022. Scientists strapped GoPro cameras to the bodies of six dolphins trained by the U.S. Navy, and recorded them hunting for food and consuming their prey in grisly detail. According to the study, there was a purpose behind this potential invasion of dolphin privacy; namely, to learn more about how the mammals hunted and ate.Scientists
The right has used this phrase for others, but doesn't think it should apply to them.
- In The Know by Yahoo
American woman dumbfounded by plate after ordering ‘chips and salsa’ in Italy: ‘I’ll never get over it’
A word to the wise: "Chips and salsa" doesn't mean the same thing everywhere.
- The Daily Beast
Tennessee Department of CorrectionA woman who shared a kiss with a prisoner during a visitation in Tennessee has been charged with murder after the inmate died shortly after their exchange.Rachel Dollard was taken into custody over the weekend by special agents from the Tennessee Department of Correction (TDOC) and the Dickson County Sheriff’s Department, the TDOC confirmed in a statement on Tuesday. She is accused of smuggling drugs into the Turney Center Industrial Complex.Dollard is facing ch
I'm a former college teacher. I wish parents would teach their kids these 3 life skills before they're done with high school.
The author taught in college for nine years and shares three things all parents should be teaching their kids before they head out to college.
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A woman is accusing an airline of "gender discrimination" after she says she was barred from entering from its business class lounge because of her outfit.
Trump aides think a family member informed on him to the FBI because agents knew where to find a specific leather case, report says
According to reports, speculation is swirling among Donald Trump's aides about who may have tipped off the FBI about classified information.
- The Guardian
Cheney releases recording of her call to Harriet Hageman, conceding her loss in the Wyoming US House primary on Tuesday
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Sarah Palin's former in-laws threw a massive campaign party for her opponent before election night, and now they'll both be on the midterm ballot
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"There's no way Trump wrote that," said "The Daily Show" host.
Anne Heche died from “smoke inhalation and thermal injuries,” according to the Los Angeles County Medical Examiner-Coroner, People reported today. Her death was officially ruled an accident. The report cited a “sternal fracture due to blunt trauma” as another “significant condition” contributing to her passing. Heche sustained the injuries when her car jumped a curb […]
DOJ officials were alarmed by surveillance footage of the Mar-a-Lago room where classified info was being stored, report says
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A man who hadn't had sex in months caught monkeypox after going to a crowded outdoor event. Experts say being intimate is still the most common way the virus spreads.
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Kendall Jenner has posted more Instagram photos, this time featuring 818 Tequila and a bronze brown thongkini. Shop the bikini that Devin Booker commented on.
- NY Daily News
Donald Trump Jr. got so worked up speaking about the FBI’s search to recover confidential documents from his father’s home last week that it even caused critics of the former president’s namesake to wonder about his well-being. The Atlantic writer Molly Jong-Fast posted the 44-year-old scion’s rapid-fire rant, which included a nonstop stream of loosely connected grievances running the gamut ...
- Fox News
Anne Heche said she 'warned' her 'Ally McBeal' co-star Portia de Rossi against pursuing ex Ellen DeGeneres
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There was nothing there! It wasn't important! It was planted! It was auto-declassified! Obama!
I compared the famous sandwich featured on "The Bear" at Midwestern staples Portillo's, Al's Beef, and Buona to see which had the best.
The "Tonight Show" host mocked the president for a move he made as he signed a climate and health care bill into law.