Saturday, March 17, 2018

Puerto Rican bonds are hot on Wall St this year

Cannot understand why.  Puerto Rico is broke.  They will never have enough revenue to pay off their bonds.  In fact they have declared bankruptcy, after getting a special act of Congress allowing them to do so, and a bankruptcy judge will decide how much (how little) the bond holders might get paid, if Puerto Rico ever comes up with some cash.  Which they probably cannot do.
   So why does a Puerto Rican bond have any value what so ever on the Street?  Inquiring minds want to know.  

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