Commonwealth of Puerto Rico

Puerto Rico oversight law's constitutionality comes under fire as investors' and workers' interests intersect.

The Puerto Rico Oversight Board named four key energy projects as potentially eligible for a special permitting process.

Gov. Ricardo Rosselló signed the measure Thursday.

The municipal bond market is looking ahead to next week’s $3.3 billion new issue slate which is dominated by GO sales from Massachusetts and taxable negotiated deals.

Debt service may be cut from 24 cents on the dollar as the commonwealth deals with recovery from Hurricane Maria.

After a week that saw few deals come to market, municipal bond traders will see the calendar perk up a bit next week as several issues of size are set to hit the screens.

As stocks surged and Treasuries swooned, municipal bond traders gauged the direction of yields as they looked ahead to what may be a downturn in issuance this year.

Municipal bond traders were returning to their desks on Tuesday with their eyes fixed on falling yields as they await a rather quiet primary market.

The workers would join 3,500 already on the island, where 45% of the power authority's customers are still without service after September's hurricanes.

The municipal bond market will see a shortage of new supply kicking off the new year, after experiencing a record-breaking month in which almost $63 billion of bonds sold.