Treasury yields moved slightly higher in a mostly directionless week after a week of more conviction. Important economic data were and will likely continue to be heavily caveated by hurricane-related effects.
Hurricane Harvey’s impact on Texas credits is broadly manageable.
Virgin Island’s credit rating withdrawn by S&P and Fitch on lack of on-going disclosure.
Moody’s comments that the impact of deferred state and local infrastructure capital expenditure is likely to be higher costs in the future.
Puerto Rico bond prices thrown for a loop on seemingly haphazard comments. S&P Puerto Rico Total Return Index was -8.3% two weeks; -15.2% YTD.