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It looks like Goldman Sachs is going to make money on one of the most controversial trades of the year





Venezuela protests

Goldman Sachs has cashed out on a portion of the $2.8 billion in Venezuelan bonds that the bank came under fire for purchasing from the cash-strapped country’s central bank back in May.

A small cadre of hedge funds recently bought $300 million of the bonds from Goldman Sachs, which enlisted small UK-based brokerage Liquidity Finance to arrange the trade, according to The Wall Street Journal.

The bank’s asset management unit acquired the bonds of Venezuelan state oil company Petróleos de Venezuela for $0.31 on the dollar — about $865 million — a little over a month ago, setting off read more >>>

Source:: BusinessInsider.Com

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