Puerto Rico Sales Tax Financing Corp (COFINA)

Signed on June 30, 2016, the Puerto Rico Oversight, Management, and Economic Stability Act sent Puerto Rico’s bondholders and residents on a difficult odyssey that is far from over.

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

German Ramirez and Richard Prann of HJ Sims talk from Puerto Rico about the situation on the island and discuss COFINA and the IRS, what's new with the GDB bonds and with the commonwealth's GOs. Chip Barnett hosts.

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

They say a ruling in the Aurelius case reinforces their contention that the Puerto Rico Oversight Board is a federal body.

The U.S. Supreme Court agreed to hear a case that could upend the work of the oversight board tasked with pulling Puerto Rico out of its record bankruptcy.

The Federal Open Market Committee is meeting this week and the muni market is looking for rate cut signals.

Another big week lies in store for the municipal bond market, with a variety of big name issuers ready to sell bonds.

The new bonds would offer about 25 basis points less in interest.

But size isn't everything as the value of the municipal bond market increased.