Puerto Rico Sales Tax Financing Corp (COFINA)

Puerto Rico Sales Tax Financing Corp.'s restructured bonds started actively trading on Friday.

IHS Markit’s Ipreo forecasts weekly bond volume will hit $2.8 billion next week.

What had been about $17.6 billion in COFINA bond par value became about $12 billion in new COFINA bond value.

A warm reception is likely for the new issue supply that will be coming into the market.

The District of Columbia will be headlining next week's new issue slate with a $940 million deal.

The State of the Union speech fell short on infrastructure while the COFINA settlement in Puerto Rico shed a harsh light on revenue bonds.

An estimated $1.6 billion may flow to COFINA bond holders within weeks following Monday's approval of the muni market's biggest-ever plan of adjustment.

The restructuring is the biggest in U.S. municipal history.

Ipreo forecasts weekly bond volume will surge to $7.2 billion from a revised total of $3.8 billion this week.

Ruling may lead to the requirement to pay interest on the bonds despite the Employees Retirement System bankruptcy.

Traditional bond buyers are going back to Puerto Rico.

Laura Taylor Swain indicated she liked the procedures proposed by the Oversight Board and Unsecured Creditors Committee.

Raúl Maldonado Gautier will gain direct control of all monetary issues in the commonwealth's government.

Judge Susan Braden had said she was inclined to hold the U.S. government responsible for impairments to Employees Retirement System bonds.

The municipal bond market will feel like it’s still on vacation next week as supply hovers around holiday week type levels.

Gov. Ricardo Rosselló is offering relief to the 4.500 federal employees in Puerto Rico whose paychecks have stopped coming.

One economist attributes the decline to the reduced flow of federal hurricane aid.

Judge Swain ordered the Oversight Board to file a brief on her legal authority to approve the restructuring plan and allowed an opposition party to file its objections.

The proposed new findings of fact exclude a mention of the new bonds being tax exempt.

Judge Laura Taylor Swain elicited little discussion of the substantive objections to the proposed settlement and plan of adjustment for $17.6 billion of bonds.