Bonds sold by the Venezuelan government and its state-owned oil company PDVSA moved in opposite directions on Monday as speculation about an upcoming default grew. President Nicolas Maduro’s regime may default on sovereign bond payments in order to continue servicing debt owed by PDVSA, Reuters reports . Caracas plans to host its creditors for a special meeting next week to discuss the details of a debt restructuring plan for $60 billion in bonds. “Some people thought that the refinancing announcement is only going to affect the Republic and not PDVSA,” an executive from a local fund that invests in Venezuelan debt told Reuters. Three other investors who hold the bonds also said they saw similar patterns. “On balance I think people are reading too much into it,” another anonymous fund manager said regarding talks of an impending federal bond default. “Every single statement around restructuring has mentioned PDVSA as […]