Puerto Rico’s Island Blues

Massachusetts Secretary of State William Galvin announced he is launching an investigation into the sale of Puerto Rico municipal bonds to the residents of the Bay State. His office sent letters to Fidelity Investments, Oppenheimer Funds and UBS, inquiring about what fund managers knew about the safety of the Island’s bonds and when they knew it, whether it was before selling them to investors in the state.

Candice Lee, an associate municipal credit analyst at Morningstar joins NBR to offer more insight on Puerto Rico`s looming debt crisis and how it might affect your investments.

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