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12/10/12

The respected world of finance takes a sober pause for thought over the upsetting news surrounding the return of Hugo Chávez's cancer


Venezuelan bonds surged, sending benchmark yields to a five-year low, as speculation mounted that President Hugo Chavez will be unable to complete his third term after he acknowledged a recurrence of his cancer.
The yield on the government’s dollar bonds due 2027 plunged 70 basis points, or 0.70 percentage point, to 8.66 percent at 8:40 a.m. in New York, the lowest since November 2007, as traders anticipated a new administration taking office and courting the investment Chavez drove away. The bond’s price soared 5.77 cents to 104.87 cents on the dollar, according to data compiled yada yada continues here