Positive article from SeekingAlpha on Puerto Rico:
Puerto Rico reiterates intention to pay bills
The bond insurers are having a reasonable day after Puerto Rico Governor Padilla denied the territory is near bankruptcy or needs a bailout. "We will do everything, and I repeat, everything that is necessary for Puerto Rico to honor all its commitments ... It's not only a constitutional but also a moral obligation."What else would you expect him to say? Plenty. Part of the bull case on those exposed to Puerto Rico is the stark difference in attitudes about bill-paying between the PR government and that of Detroit.
Also maybe helping is another report from MKM's Harry Fong, arguing Puerto Rico will not default and all general obligation bonds will be paid.
MBIA (MBI +2%), Assured Guaranty (AGO +1.5%), Ambac (AMBC -0.7%).