FYI: .Investors wait for benchmark G.O. bond to fall below 20 cents
.Lower price could bring back tax-exempt mutual funds who sold
How low will it go? That’s what investors are wondering as they contemplate at what price Puerto Rico’s most actively-traded security becomes a buy.
The price of the 8 percent general obligation bond due 2035 dropped nearly 60 percent since Hurricane Maria struck the island. It traded Thursday at an average price of 23 cents, down from 56.7 cents before the storm hit. Some investors are waiting for a price in the teens before buying
Regards,
Ted
https://www.bloomberg.com/news/articles/2017-12-21/puerto-rico-bond-buyers-wait-for-teens-price-before-jumping-in?srnd=fixedincome
