JPMorgan Chase & Co. and Jefferies Financial Group Inc. plan separate trips to Caracas. These mark the first visits by major U.S. banks in years.
Surging investor interest drives these visits. This interest focuses on Venezuela's vast, defaulted debt market. The potential for a large-scale debt restructuring also contributes.
Investors position for a potential economic reopening. U.S.-Venezuela relations show signs of improvement.
The visits aim to gather firsthand economic and political information for clients. These clients speculate on Venezuela's defaulted bonds. The bonds are estimated to be worth around $60 billion.