Puerto Rico's Muni-Bond Meltdown Likely Won't Burn Everyone
It's been a summer of bad news for financiers, but while Puerto Rico's municipal bonds are tanking, the rest of the muni-market looks promising.By Matt Patston | July 28, 2015
It's been a summer of bad headlines and high blood pressure for those who follow of financial news. Seems like we could use something positive for a change.
Greece is collapsing, China's stock market is careening and now the U.S. has to worry about Puerto Rico drowning in municipal debt.
But Puerto Rico's debt problems actually lead us to something promising: After a hiccup in the spring, the rest of the municipal bond market is actually doing pretty well.