Jan
31
Puerto Rico Rebound Lures Mutual Funds Back to Island’s Bonds
By-
Pimco, AllianceBernstein have boosted holdings since hurricane
- Once big buyers, mutual funds sold when fiscal crisis worsened
Traditional bond buyers are going back to Puerto Rico.
After shunning the U.S. territory for much of the past six years, municipal-bond mutual funds are again buying the government’s debt as it recovers from the 2017 hurricane and inches closer to winning a potential court approval to restructure more than $17 billion of sales-tax-backed debt, a major step in its record-setting bankruptcy…
Puerto Rico Rebound Lures Mutual Funds Back to Island’s Bonds
