I doubt there are any mothers reading my write-ups on munis at this point but if there are, Happy Mother's Day! Why have chocolates or flowers when you can have munis? ;)
Last week I got a bit in the weeds over the Puerto Rico Bankruptcy filing so this week will be a bit more brief. We should learn more about Puerto Rico this week as various creditors, hedge funds, and the Puerto Rican government will appear in court for the first time on May 17th. No matter what happens, this case will likely set precedent for other muni cases. It is worth paying attention to if you are heavily invested in munis.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.