News Topic: Sovereign Debt

Confusion reigns. Venezuela might plan to default , but maybe it's just pretending  so it can buy bonds back on the cheap. ... Read full article

It is rare that the ideas in academic articles fundamentally change the world. ... Read full article

The news out of Venezuela with regards to its debt situation has been keeping investors (who love the high returns, but dislike the uncertainty) in a tizzy, to put it mildly. But today's news was perhaps the most bizarre yet.  Mr. Maduro, on the one ... Read full article

Adam Lerrick , of the American Enterprise Institute, has offered an intriguing approach to the Republic of Venezuela/PDVSA debt problem. Call a spade a spade. The distinction in the market between Republic of Venezuela and PDVSA bonds has always been ... Read full article

Joint post by Mitu Gulati and Mark Weidemaier . ... Read full article

Bond pricing has always been a puzzle to me, so I leave it to Mitu . But one thing has bugged me for more than a year . Ever since Venezuela has joined the ranks of the walking dead, market participants have differentiated among its bond contracts in a ... Read full article

From Joseph Blocher & Mitu Gulati ... Read full article

From Joseph Blocher & Mitu Gulati We would not exactly call ourselves avid readers of the US Navy blogs. But there is an interesting post on the U.S. Naval Institute Blog today on Puerto Rico and debt by Commander George Capen (retired). The context ... Read full article

We are about to hit an anniversary of sorts, a year since Venezuela was surely going to default on its debt ... except that it still hasn't, so the U.S. government has decided to nudge it along. ... Read full article

This is a joint post by Mitu Gulati and Mark Weidemaier . ... Read full article

Among emerging market countries that have needed to restructure in recent decades, Venezuela is uniquely dependent on external commercial ties, especially oil exports to the United States by state oil company PDVSA. ... Read full article

And so it begins . ... Read full article

Last time on Super-Sad Updates , I speculated (i) that the Venezuelan people could be in for more suffering and bondholders for more coupon payments (see Romania), (ii) that Venezuela’s complex debt stock was prone to shell games and inter-creditor ... Read full article

Market and civil society observers have taken Venezuelan debt restructuring as a certainty for more than two years, putting it in contention for the world’s slowest train wreck and quite possibly the messiest. ... Read full article

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As noted as an update in the prior post , May 17 is the first hearing in Puerto Rico's PROMESA restructuring cases (which also have new case numbers) . ... Read full article

It is nearing the one-week anniversary of the biggest government bankruptcy in U.S. history: the Commonwealth of Puerto Rico. ... Read full article

Midnight came and went with no news of a debt deal in Puerto Rico, and no extension of a stay on creditor enforcement under PROMESA . ... Read full article