Puerto Rico COVID-19 Statistics Updated Nov 30, 2020 @ 12:05pm EST « Return to National Stats. Feb 10, 2020 - 2:17 min read. United Nations projections are also included through the year 2100. Home Breaking News Puerto Rico’s Bond Prices Are Falling Sharply, Foreshadowing U.S. Economy. New Cases 0 November 30 0% Growth. Puerto Rico’s financial oversight board and investors holding $8 billion of general obligation and commonwealth-guaranteed debt agreed to the terms, which would cut those bonds’ outstanding principal to $10.7 billion from $17.8 billion, a 40% reduction. By Daniel Bases NEW YORK (Reuters) - Puerto Rico's benchmark General Obligation bond fell in price on Friday in choppy trading after the U.S. House of Representatives passed legislation aimed at helping the U.S. territory fix its fiscal mess. Deaths 1,106 Total 0.035% Per Capita. In mid-2015, the government defaulted on a $58 million bond payment and… Zillow has 1,562 homes for sale in Puerto Rico. Bonds Prices on Puerto Rico debt drifted higher on Friday and trading of the junk-rated bonds slowed, calming some of the recent market turbulence inspired by … The Puerto Rican government-debt crisis is a financial crisis affecting the government of Puerto Rico. Currently Puerto Rico bonds account for 92% of the default index, so as Puerto Rico bond prices go, so goes the S&P Municipal Bond Defaulted Index, which is up 15.4% MTD as of August 20, 2018. Puerto Rico first defaulted on its general obligation bonds in July 2016, when it failed to pay roughly $1 billion owed to its creditors and hasn't made any payments since. Puerto Rico has reached agreement with a large portion of its general obligation bond holders—and the holders of the constitutionally protected “Puerto Rico Building Authority bonds.”. 5.000%: 2035-Jul: 102.600 - 102.631: 105.163 - 105.163: 1.675 - 1.675: 6: $85,000: 2.563: Puerto Rico Comwlth Pub Impt-ser A 74514LE86=MSRB Don't trade COMMONWEALTH OF PUERTO RICO PUBLIC IMPROVEMENT REFUNDING BONDS, SERIES 2012 A (GENERAL OBLIGATION BONDS) (PR) until you make sure it's not too risky or overpriced. Prices on some Puerto Rico general obligations increased Monday after Aurelius Capital Management and other investors agreed to a tentative plan to reduce the island’s debt by about 40 per cent, a key hurdle in its record bankruptcy. Currently Puerto Rico's benchmark general obligation debt, an 8 percent coupon bond maturing in 2035, last traded at a bid price of 60, according to Thomson Reuters data. The GO bond, carrying an 8 percent coupon and maturing Puerto Rico Bond Trading and Outstanding Debt Part II - Top 25 Most Actively Traded Securities The following eight graphs illustrate price movements of the 25 most-traded securities through December 2017 based on the information provided in Part I. Now, Puerto Rico may return to the market with more debt, after disclosing earlier this week an offering of tax and revenue anticipation notes maturing in … The benchmark Puerto Rico general obligation bonds due in 2035 with an 8 percent coupon traded as high as 52 cents on the dollar, up from the 40-cent-range at the beginning of August. Puerto Rico bond prices jump on debt proposal. Puerto Rico’s Bond Prices Are Falling Sharply, Foreshadowing U.S. Puerto Rico’s Bond Prices Are Falling Sharply, Foreshadowing U.S. This factor, along with many others, led Puerto Rico to issue bonds up to today's outstanding debt of US$71 billion—an amount approximately equal to about 68% of Puerto Rico's gross domestic product (GDP). The Premier Pacific NW Leader Online for Muni, Tax-Free Puerto Rico Bonds Providing High Quality Fiduciary Services at Very Low Prices. Problems by Bob Adelmann October 29, 2013 Facebook Twitter Linkedin Whatsapp Parler Email Print Problems. The crisis was first noticed in 2012, when Moody’s downgraded the island’s bonds to near-junk status, which sunk prices of those debt securities. Puerto Rico’s GO and Cofina bonds trade between 58 and 65 cents on the dollar. The crisis began in 2014 when three major credit agencies downgraded several bond issues by Puerto Rico to "junk status" after the government was unable to demonstrate that it would be able to pay its debt. ... Municipal Bonds 101 From Service Cuts to Budget Shortfalls: What Is in Store for American Transportation Agencies? Chart and table of the Puerto Rico net migration rate from 1950 to 2020. According to the Puerto Rico pension plan’s bond fraud case, the trading desks of the various banks worked together to artificially raise the prices of the GSE bonds when the market took a hit after the 2008 financial crisis and Fannie and Freddie started reducing the number of bonds … Facebook. We will take a closer look at the future of Puerto Rico’s restructuring process, additional lawsuits, and delays in reaching negotiated agreements. Some of this optimism is reflected in a recent rally in Puerto Rico bond prices. Housing Index in Puerto Rico increased to 155.36 points in the second quarter of 2020 from 147.27 points in the first quarter of 2020. Puerto Rico has more than $70 billion in outstanding debt that has been rated below investment grade since early 2014. Contributing Author - Oct 29, 2013: 9:50 pm. Population 3,193,000 | Policy Reopening State. Housing Index in Puerto Rico averaged 160.61 points from 1995 until 2020, reaching an all time high of 210.42 points in the second quarter of 2007 and a record low of 100 points in the first quarter of 1995. As mentioned in a Seeking Alpha article, “Muni bonds, in general, are second only to U.S. Treasuries in terms of perceived safety. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. Puerto Rico Municipal Bond Quotes, Rates, Yields, New Issues, Defaults and Ratings News. The essence of the plan was to reduce Puerto Rico’s debt burden by exchanging the old bonds into a combination of new ones and potentially cash. To date, the Puerto Rican collapse is the largest governmental bankruptcy in U.S. history, involving $129 billion in debts, reports The New York Times. The current net migration rate for Puerto Rico in 2020 is -16.061 per 1000 population, a 32.31% decline from 2019.; The net migration rate for Puerto Rico in 2019 was -23.728 per 1000 population, a 24.42% decline from 2018. “Bond prices on top Puerto Rican debt fell to below $0.65 on the dollar, and yields spiked closer to 9 percent as of Oct. 15, 2013, according to the Municipal Securities Rulemaking Board. Cases 72,166 Total 2.26% Per Capita. Problems. See current Puerto Rico bond list and quotes: Looking for 74514LB89? Yields on Puerto Rico general obligation bonds have fallen to 7.54 percent from 8.9 percent at the start of the year, according to Thomson Reuters data. In February the restructuring of what had been $17.6 billion in COFINA bonds was done, following a deal reached between bondholder representatives and the Puerto Rico … For instance, they said the dollar price differential of the senior 5% of 2040 COFINA bonds and the 5% of 2042 Puerto Rico Highways and Transportation … The S&P Municipal Bond Puerto Rico Index is a broad, market value-weighted index that seeks to measure the performance of bonds issued within Puerto Rico. Get BondView's free Risk & Price Report. The Puerto Rican bond selloff that started in late August follows an already deep price stress experienced in the broader municipal market, it noted. By. IF PUERTO RICO BONDHOLDERS suffer big losses, says Taylor, it could spill over into the rest of the muni market. In late 2019, the FOMB presented a plan to restructure and reduce Puerto Rico’s $129 billion of debt. These actions, along with a series of negative cash flows and a depression, ultimately led to Puerto Rico's government-debt crisis.