This week we review the most recent value of the Puerto Rico Economic Activity Index and examine issues related to its value as an indicator.
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"As September draws to a close, some dynamics may prevail in October but others could undergo a shift," said NewSquare Capital's Kim Olsan. "One aspect that will continue is the level of supply coming to market."
Federal Reserve chair Jerome Powell flagged a recent upward revision to income and savings data as a sign of economic strength. He said the information could factor into the central bank's monetary policy discourse during the Fed's next interest rate meeting in November.
The President is considering calling a special session to deal with hurricane damage.
September volume came in over $44 billion leading volume year-to-date to hit more than $380 billion, just shy of 2023's full-year total issuance.
Puerto Rico's electric reliability is likely to continue to deteriorate without access to the capital markets, the investors said.
Advocates hope to use the data to persuade lawmakers of the usefulness of tax-exempt bonds as Congress tackles tax policy next year.
