Puerto Rico

Municipal bond buyers will be seeing more than $5 billion of supply headed into the market.

Judge Swain's ruling complicates the Puerto Rico Oversight Board's effort to recover payments on $6 billion of bonds that the board deems to have been illegally sold.

Puerto Rico’s Federal Oversight Board is asking the U.S. Supreme Court to overturn a ruling that deemed its members unconstitutionally appointed.

Action got underway in the primary on Monday as an Iowa school district sold over $100 million of general obligations.

The Oversight Board in its fiscal plan had projected a 5.06% population drop after the 2017 hurricanes; the Census Bureau found a 3.9% decline.

They say that the Oversight Board has shown itself to be slow and obstructionist in attacking illegitimate bonds and prosecuting guilty parties.

January revenue beat the original budget projection by 36%, raising hopes that there will be more money to pay bondholders as the island's debt is restructured.

Ambac and FGIC filed motions in support of the Puerto Rico Oversight Board's effort to declare illegal $6 billion of the commonwealth's bonds.

The firms are saying they shouldn't have to participate in the disclosure, which could lead to a clawback of bond payments.

Municipal supply will slip in the holiday-shortened trading week, but that doesn't mean there won't be things to watch for in the market.