The island's budget director said the government should turn to money connected with a Jeffrey Epstein settlement to have enough money to finish the remaining six weeks of the fiscal year.
The New York-based business "acted as an unregistered broker in connection with 31 municipal bond offerings," the SEC alleged in its order.
Massachusetts voters may cap its revenue in November. The commonwealth's strong financial position is likely to insulate bondholders from any resulting turmoil.
The city remains triple-A across the board despite's S&P's negative outlook as it prepares to sell $269 million of general obligation bonds.
August may have one of the highest tax-exempt volume totals on record, according to J.P. Morgan analysts — don't expect it to let up.
The announcement — which affects the 10- to 30-year part of the curve — sent longer-term UST yields falling up to 10 basis points on Wednesday.
