Puerto Rico Bill Likely to Become Law This Summer: Guggenheim

Republicans don’t want to block H.R. 5278 before the Nov. presidential election because the Puerto Rican vote matters in the key swing state of Fla., Guggenheim’s Jaret Seiberg says.

• Opposition expressed by Bernie Sanders and some Senate Democrats may lead to votes on alternatives such as Fed emergency loans, but they will be defeated, Seiberg says
• “It seems like it is this bill or it is chaos on the island. And we think enough key lawmakers on the Hill and Treasury realize this and want to ensure the bill gets enacted,” he says
• NOTE: Puerto Rico-exposed bond insurers up YTD: MBI +14%, AMBC +17%, AGO +3%
• Earlier: U.S. House Cmte Advances Puerto Rico Debt Crisis Measure

• Kasia Klimasinska

Puerto Rico Bill Likely to Become Law This Summer: Guggenheim