Puerto Rico

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.

Puerto Rico’s per capita debt load is far lower than that of the mainland U.S. states.

The board said the 2012 and 2014 GOs were "issued in clear violation of the Puerto Rico constitution and should be declared null and void."

Rosana Aguilar is expected to focus on maintenance and repair of existing roads by the authority, which is in Title III bankruptcy with $4.1 billion of bond debt.

After a lackluster week, the muni market is hoping to get back on track.

Municipals were mostly stronger Friday ahead of next week’s $6.4 billion new issue calendar.