Over the past few weeks, prices on Puerto Rico’s bonds have drifted downward as investors grappled with the effects of a devastating hurricane. That slow drift turned into a nose-dive Wednesday in the first trading session after President Donald Trump called into question whether investors would be paid their money back at all. Puerto Rico’s benchmark general obligation bonds maturing in 2035 traded at record lows of 30 cents on the dollar Wednesday, down from roughly 44 cents late Tuesday and 56 cents the day before Hurricane...

Source: Wall Street Journal October 04, 2017 14:09 UTC