Puerto Rico Aqueduct & Sewer Authority

The Board will address several of Puerto Rico's authorities' fiscal plans and will have an update about PREPA's transition of its systems to the private operator, LUMA Energy.

Non-farm employment went up for three consecutive months.

The authority appears ready to take advantage of market conditions following a successful December refunding.

Three of seven board members will be from the original group.

Some economists say the changes, such as a rise in minimum wage, would be a negative for the local economy.

The aid is in response to Hurricanes Irma and Maria, which hit the island more than three years ago.

The largest tranche of the deal, $706 million with a 5% coupon in 2047, yielded 4.15%, a 275 basis point spread over triple-A paper.

Yield-starved investors will help the deal get done, despite credit risks and the island's bankruptcy overhang.

A heavier calendar still will not fulfill the $20 billion-plus of December redemptions. Muni/UST 10-year ratios fell to 74% as the UST 10-year came closer to 1.00%.

The governor-elect also plans to appoint Manuel Cidre as secretary of economic development and commerce.