The Venezuela Factor: Why High-Yield, Emerging-Market Debt Is Having a Moment | Trillions
January 15, 2026
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35:23Now PlayingThe Venezuela Factor: Why High-Yield, Emerging-Market Debt Is Having a Moment | Trillions
YouTube Description
as posted by the channelVenezuela bonds were up 100% even before the US ousted President Nicolás Maduro. Then they went up another 30%. And one actively-managed exchange-traded fund was positioned perfectly after buying the bonds in 2025.
On this episode of Trillions, Eric Balchunas and Joel Weber speak with Jim Craig, portfolio manager of the Virtus Stone Harbor Emerging Markets High Yield Bond ETF ($VEMY), and Damian Sassower, who oversees emerging markets fixed income for Bloomberg Intelligence. They discuss why Venezuela bonds are surging, how Stone Harbor gained exposure, Craig's overall investing strategy, and how a restructuring might work. They also take a brief tour of VEMY’s other holdings, including countries such as Lebanon and Ecuador that have also seen increased returns.
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Money goes where it's treated best. That simple truth is a big reason why more and more money—trillions, in fact—flows into a powerful, low-cost tool that's quietly transformed investing in recent years. Exchange-traded funds, or ETFs, let you invest in everything from the stock market to gold like never before. This biweekly podcast will demystify them—and delight you in the process.
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