Markets 'Whistling Past Graveyard' on Venezuela, Says PGIM's Collins

Core Viewpoint - Venezuelan bonds are expected to appreciate following the capture of President Nicolás Maduro, indicating a potential shift in the political landscape and the possibility of debt restructuring [1] Group 1: Political Developments - The capture of President Nicolás Maduro sets the stage for a potential regime change in Venezuela [1] - This political shift may lead to improved conditions for Venezuelan bonds, as investors anticipate changes in governance [1] Group 2: Debt Restructuring - The prospect of debt restructuring could further enhance the value of Venezuelan bonds [1] - However, resolving Venezuelan debt is likely to be complex due to the country's existing obligations, which include defaulted bonds, loans, and legal judgments owed to various creditors [1]