Trump sends Puerto Rico bonds reeling

Author: , Post Date: October 5, 2017
image_pdfimage_print

The stock market has gotten pretty good at discounting some of President Trump’s more freewheeling rhetoric on North Korea, taxes and other issues. But the bond market had no idea what to make of Trump’s comments late Tuesday that the U.S. might have to wipe out Puerto Rico’s $74 billion in publicly held debt.

Cumberland Advisors’ David Kotok emails on Trump: “No idea what he means. It certainly threw a curve at markets. There is a federal oversight system already in place. The pre-hurricane debt needs restructuring and this is widely known. Trump is an enigma.”

Read the full article here: http://www.politico.com/tipsheets/morning-money/2017/10/05/trump-sends-puerto-rico-bonds-reeling-222655


cumber map
Cumberland Advisors® is registered with the SEC under the Investment Advisers Act of 1940. All information contained herein is for informational purposes only and does not constitute a solicitation or offer to sell securities or investment advisory services. Such an offer can only be made in the states where Cumberland Advisors is either registered or is a Notice Filer or where an exemption from such registration or filing is available. New accounts will not be accepted unless and until all local regulations have been satisfied. This presentation does not purport to be a complete description of our performance or investment services. Please feel free to forward our commentaries (with proper attribution) to others who may be interested. It is not our intention to state or imply in any manner that past results and profitability is an indication of future performance. All material presented is compiled from sources believed to be reliable. However, accuracy cannot be guaranteed.
Loading...