Puerto Rico

The Securities and Exchange Commission's enforcement action against 13 dealer firms Monday represents a broad commission effort to correct behavior that was probably due to mistakes by individual traders dealing with an unusual bond issuance, attorneys and market participants said Tuesday.

While Puerto Rico faces fiscal problems that are similar to those of 1970s New York, it's important to note the differences between the two economies as the island commonwealth seeks a solution.

Puerto Rico officials said Thursday that the Puerto Rico Electric Power Authority would default on its bonds but that the Puerto Rico Highways and Transportation Authority would not.

Puerto Rico plans to help its Highways and Transportation Authority through an oil tax increase and the sale of bonds from a new authority.

Claims against UBS from Puerto Rican investors have surged to $900 million, the group said Tuesday in its third-quarter earnings report.

Moody's Investment Service is concerned about Puerto Rico's liquidity and market access, it said in a report released Tuesday.

Puerto Rico plans to host an investor webcast on Thursday, Oct. 30.

Puerto Rico's planned bond sale from the Puerto Rico Infrastructure Finance Authority may lead to or prevent a default, depending on which analyst you believe.

Puerto Rico's unemployment rate jumped to 14.1% in September, a second month of increases as the commonwealth battles to bolster its sagging economy.

Puerto Rico Gov. Alejandro García Padilla is expected to file a bill authorizing a greater than $2 billion bond this week, a leading Puerto Rico senator said.