December 9, 2011

"YOU'RE WORTH MORE DEAD THAN ALIVE":

How an email saying Hugo Chavez was dead grew Venezuelan bond prices (Miguel Octavio, December 8, 2011, CS Monitor)

The whole thing was bizarre. Venezuela and PDVSA bonds were sort of mixed in the morning and all of a sudden, around noon, I noticed they were up strongly, but there was no news explaining it. Then, a friend calls and tells me New York is full of rumors suggesting that Chavez may have died. I got a dozen calls or chats on the topic within minutes. Given that he supposedly signed some documents mid-morning, it was hard to believe this could be true.

But the rally kept going. It was only later, that another friend sent me a denial by La Prensa. 

Posted by at December 9, 2011 6:06 AM
  

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