A sell-off of dramatic proportions occurred in the early part of last week. Mutual funds saw the largest weekly outflows in over 3-years. We enter a new rate realm.
We review the history of the Puerto Rican Sales Tax Financing Cooperation (COFINA) and why bond holders may consider selling those securities.
With a supposed anti-regulation President coming into office the impacts may be far reaching. This includes a potential roll-back of the Municipal Continuing Disclosure Cooperative Initiative.
A long-time U.S. representative focused on pensions is appointed to the executive committee of President-elect Donald Trump’s transition team. This could portend changes to transparency of these funds.