With Maduro Out, Wall Street Chases After Venezuela’s Riches (2)

Bond traders talked up the potential. Energy investors had a glint in their eyes.

Few foresaw the US’s brazen overnight capture of Nicolás Maduro. But the wealth that could be unleashed by regime change in Venezuela was on many Wall Street minds in the months leading up to the Trump administration’s shocking move.

Weeks before his removal, analysts at Citigroup Inc. predicted gains of as much as 60% on the nation’s bonds if the president were replaced. At packed conferences and seminars, other strategists opined on the potential profit a new regime could offer to the holders of some ...