| Description: | Investors who have been buying up Venezuelan bonds in hopes of an opposition victory in this weekend’s presidential election will be heartened by the results of a poll from Consultores 21 which shows Henrique Capriles having the edge on incumbent Hugo Chavez The survey shows the pro-market Capriles with 518 percent support among likely voters an increase of 56 percentage points since a mid-September pollVenezuelan bonds have rallied hard ever since it became evident a few months back that Chavez a socialist seeking a new six-year term would face the toughest election battle of his 14-year rule Year-to-date returns on Venezuelan debt are over 20 percent or double the gains on the underlying bond index JP Morgan’s EMBI Global And the rally has taken yields on Venezuela’s most-traded 2027 dollar bond to around 105 percent a drop of 250 basis points since the start of the yearBut Barclays analysts are advising clients to load up further by picking up long-tenor 2031 sovereign bonds or 203 |