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Trumps Puerto Rico Comments Rocked These Markets

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Puerto Rico’s debt crisis re-emerged with a bang on Wall Street Wednesday. Shares of bond insurers tumbled and the price of a tranche of the island’s bonds sank to levels equal to those in Venezuela after U.S. President Donald Trump suggested the debt may need to be “wiped clean," while bonds issued by the U.S. Virgin Islands also came under pressure. said not to take the president’s remarks "word for word." Analysts at BTIG also questioned Trump’s capacity to affect Puerto Rico’s debt restructuring, and advised clients to buy the dip in the bond insurers. Any aid provided by the […]
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