Venezuela bond spread falls below 10% first time since may 2010

The extra yield investors demand to own Venezuelan government bonds instead of U.S. Treasuries fell below 10 percent today for the first time since May 2010 after President Hugo Chavez said that he’ll travel to Cuba for another cancer operation.

The premium for Venezuelan dollar bonds fell 20 basis points, or 0.20 percentage point, to 998 at 9:40 a.m.