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Puerto Rico Bonds Collapse to 36 Cents on Dollar following Trump Comments

Courtesy of Mish.

Puerto Rico general obligation bonds fell to 36 cents on the dollar after Trump told Fox News on Tuesday night that Puerto Rico’s debt will have to be wiped out.

Looking back, bonds prices started the collapse in 2014, well before Trump comments and well before hurricanes.

Puerto Rico borrowed billions of dollars, more than any state in the US except California and New York for energy infrastructure, but the money did not shore up its aging infrastructure.

Where did the money go?

Puerto Rico Bond Prices

Puerto Rico Infrastructure

Wipe Out the Debt


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