These Funds Have The Most Exposure To Puerto Rico Debt

Ted

FYI: (This is a follow-up article)
Investors would be wise to keep an eye on funds that have the most exposure to Puerto Rico debt as the island faces unprecedented devastation from Hurricane Maria.

Investors would be wise to keep an eye on funds that have the most exposure to Puerto Rico debt as the island faces unprecedented devastation from Hurricane Maria.

Puerto Rico had already racked up more than $70 billion in debt before the storm. And with a new request for $1.4 billion in federal aid from Gov. Ricardo Rossello, the island's shortfall doesn't look like it will end any time soon.
Regards,
Ted
https://www.cnbc.com/2017/10/10/these-funds-have-the-most-exposure-to-puerto-rico-debt.html

AndyJ

Mainstay's PR holdings, last I read their commentary, were all insured debt, in contrast to Opp'heimer. The 1m total returns reflect the difference: MMHAX -0.59%, OPTAX -2.65%, ORNAX -2.88%. M* shows the HY muni fund category with a -0.60% return for the same period.

Old_Joe

@AndyJ- If I were the insurance carrier I'd be thinking about folding up the tent right about now.

AndyJ

@Old_Joe - you gotta wonder. I also wonder what spaghetti dish the maze of credit default swaps on PR debt looks most like.

johnN

Give PR a break?

https://www.bloomberg.com/view/articles/2017-10-11/come-on-bondholders-give-puerto-rico-a-break

davidrmoran

Good old Nocera, fine journalist

Ted

@MFO Members: Its easy to say that, when its not your money !
Regards,
Ted