Venezuelan Bonds Jump as JPMorgan Returns Debt to Indexes (3)

Bonds from Venezuela and its state-owned oil company are rallying after JPMorgan Chase & Co. laid out a plan to re-weight the securities in widely followed emerging-market debt indexes.

About $53 billion of Venezuela’s sovereign bonds and Petroleos de Venezuela SA’s notes — which have lingered in default since 2017 — will re-enter the Emerging Market Bond Index series over three months starting April 30, a team led by Gloria Kim wrote in a Thursday statement. The decision comes just four months after the US government lifted a ban on trading the instruments on the secondary market.

The ...