Puerto Rico Back in the Hot Seat
Investors should expect continued volatility.
The commonwealth of Puerto Rico and the municipal-bond mutual fund market were thrust back in the headlines in recent weeks as Gov. Alejandro Garcia Padilla warned that the U.S. territory couldn't pay its $72 billion of debt. In this article, we'll provide context around the announcement, review which mutual funds own significant amounts of Puerto Rico bonds, and discuss what investors can expect moving forward.
Elizabeth Foos does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.