|Day's Range||24.71 - 24.79|
|52 Week Range||23.02 - 24.89|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.40%|
Changes to foreign exchange rates in Venezuela will do little to fix structural stagflation and economic crisis, Nomura says. Nomura's Siobhan Morden, head of Latin America fixed income strategy, explains the problem: Venezuela lacks U.S. dollars that could fund a flexible foreign exchange rate. The result is extreme inflation, with wide differences between the official, black market and SIMADI/DICOM exchange rates.
Russia's indirect stake in three U.S. Citgo refineries, now owned by the nearly-bankrupt Venezuelan government, likely will be studied as a confidential matter by the Committee on Foreign Investment in the United States, Treasury Secretary Steven Mnuchin said Thursday in a U.S. Senate committee hearing. Mnuchin is chairman of the CFIUS. In questioning before the U.S. Senate Banking, Housing and Urban Affairs Committee, Mnuchin acknowledged an April letter on the subject from six U.S. senators including Sen. Robert Menendez, a Democract from New Jersey.
Among the roughly 100,000 national security officers protecting the Venezuelan government by squelching street violence, there are signs of fatigue. The Wall Street Journal's Anatoly Kurmanaev interviewed Venezuela cops on the condition of anonymity, and concluded many are demoralized and exhausted -- and that those protesting against the government are resilient despite limited means. One national police officer who spoke with The Journal in Caracas said: "One day I will step aside and just walk away, blend into the city ... No average officers support this government anymore." Rising violence and death in the streets are the sad signs that bond investors are watching as they handicap the possibility that President Nicolas Maduro could step aside or be thrown out.