Puerto Rico Infrastructure Financial Authority

With a meeting on the restructuring set, bondholders were girding for battle over the board's plan to nullify portions of the debt.

The household employment survey showed good economic news, while other measures were mixed.

The gain was led by a 53% jump in revenue from the Act 154 excise tax, which is due to be phased out.

Treasury Secretary Steve Mnuchin said Puerto Rico will have to look for an alternative to the Act 154 tax.

Judge Laura Taylor Swain sided with the Oversight Board as it sues the local government to comply with its fiscal plans.

It remains unclear how the new governor may alter the Puerto Rican government's stance in the suit.

Secretary of Justice Wanda Vázquez Garced said she will swear in as governor Wednesday afternoon.

The strong performance may strengthen bondholders' hand in negotiating Puerto Rico bond restructuring.

Puerto Rico Senate President Thomas Rivera Schatz is leading a suit seeking the court to remove the former resident commissioner from the position.

The Trump administration is planning to place restrictions on disaster aid for U.S. states and territories.

Two weeks of unrest have cut economic activity by 15%, and a disorderly transfer of power may disrupt the territory's historic debt restructuring.

Almost $25 billion of bonds would be affected, as Judge Laura Taylor Swain seeks to avert "chaos" of claims by bondholders.

With a weakened government, the Oversight Board may be emboldened to take more unilateral actions on bond restructuring, analysts said.

The busts may weaken the the Rosselló administration as it struggles over fiscal policy with the Puerto Rico Oversight Board.

The board says more than $1.7 billion in revenue is at stake in fiscal years through 2024.

The Puerto Rico Treasury now expects 33.6% more revenue in the fiscal year than the original projection.

As Sunday's fiscal deadline approaches the legislature is hammering out a budget that's $500 million bigger than the Oversight Board's plan.

Puerto Rico CFO Rafael Maldonado Gautier said that some Treasury professionals have been selling influence, issuing false licenses, and trying to extort him.

The overall recovery would be in the 36% to 38% range under its restructuring plan for $35 billion in bonds.

The Oversight Board called the deal to reduce cuts to retirees a "crucial step" toward restructuring $25 billion in bonds and loans.