|Bid||114.00 x 1000|
|Ask||124.99 x 800|
|Day's Range||114.99 - 115.39|
|52 Week Range||107.74 - 118.14|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.40%|
Venezuela is the most at-risk oil producer today, and the grave economic and political crisis engulfing the country could come to a head Sunday. "If President Nicolas Maduro proceeds as planned with the deeply unpopular election of a new constituent assembly that will be charged with rewriting the constitution, he will likely spark violent street demonstrations on a scale not yet seen and hasten the country’s economic implosion by triggering a new wave of crippling sectoral sanctions," writes Helima Croft, global head of commodity strategy at RBC Capital Markets. Croft, who worked in Africa for the State Department, along with colleagues Michael Tran and Christopher Louney, adds that Venezuela appears "poised to earn the dubious distinction of being the first sovereign oil producer to fully fail." RBC's commodities team adds: " ... The statistics are staggering.
The United States imposed sanctions on 13 Venezuelan leaders Wednesday, fueling speculation that President Nicolas Maduro's weak regime is near its end. The new additions to the U.S. list of specially designated nationals from the U.S. Department of the Treasury include the current and former directors of Venezuela's national police force, the head of the national electoral council, a former vice president of finance for the state-controlled oil company Petroleos de Venezuela or Pdvsa, and the country's ombudsman who is also president of Venezuela's "moral council." There remains speculation that the United States will impose harsher economic sanctions on Venezuela.
With the U.S. government threatening sanctions against senior leaders in Venezuela, bonds are under pressure. The selloff has been extreme, writes Nomura's Siobhan Morden, head of Latin America fixed-income strategy. Five former Latin American presidents flew to Venezuela to be observers in the non-binding referendum.