|Bid||6.75 x 300|
|Ask||7.35 x 1000|
|Day's range||7.00 - 7.33|
|52-week range||6.62 - 11.65|
|PE ratio (TTM)||-0.59|
|Forward Dividend & Yield||0.00 (0.00%)|
|1y target est||N/A|
President Donald Trump's apparent unwillingness to back rebuilding of hurricane-ravaged and already bankrupt Puerto Rico sparked yet another selloff in the bonds Thursday. Trump tweeted that Puerto Rico's financial crisis was "largely of their own making," and added, "We cannot keep FEMA, the Military & the First Responders, who have been amazing (under the most difficult circumstances) in P.R. forever!" The closely watched 8% coupon general obligation bonds maturing in 2035 fell to 35 cents on the dollar, a new low. The New York Times notes in its story: The threat may mean less than it appears — federal government officials quickly said that they were not pulling out of Puerto Rico anytime soon.
It's unlikely the "King of Debt" can erase Puerto Rico's debt, but President Trump's interest in the island may make life harder for bondholders.
Shares in the insurers of Puerto Rico's bonds fell sharply Wednesday morning after President Donald Trump suggested the struggling commonwealth's bondholders would have to be wiped out.
Puerto Rican bonds take a huge hit following President Trump's comments on the island's massive debt.
Puerto Rico's bonds have been falling fast ever since the scope of damage to the island following Hurricane Maria became clear. Specifically, Trump told Fox News' Geraldo Rivera Tuesday, "They owe a lot of money to your friends on Wall Street. Puerto Rico Electric Power Authority (PREPA) bonds were also at an all-time low.