RE:RE:QuestionI've read a little more about the PDVSA 2020 bond situation and think that NOW I may understand it.
The market's view seems to be that those bonds probably will get paid in full sometime AFTER Citgo is sold--i.e., whoever buys Citgo (leading to GRZ and othe creditors being paid) will ultimately have to make good on those bonds.
I'm not convinced that the Venezuelan opposition won't yet prevail in their argument that those bonds should be declared void. But the market clearly is coming to think otherwise and I suspect, in this case, the market is probably right.
Strange to me that the Venezuelan opposition would continue to fight that battle. Venezuela will lose Citgo either way.