Trading volume of Puerto Rico Sales Tax Financing Corp. rose Monday morning following last week's investor call by the commonwealth discussing COFINA's legal opinions.

In morning trading, COFINA volume was 22% higher than the average of the last five Monday sessions and mostly dealer to customer sells. "The most active COFINA CUSIP is trading cheaper relative to trades on Friday," a Chicago trader said. "COFINA is being sold off of dealer books and not to other dealers."

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