@WSJ reporter covering municipal bonds and public finance. Former reporter at Bloomberg and The Times-Picayune. I like sailing and fishing.

Connecticut, America’s Richest State, Has a Huge Pension Problem

wsj.com — The state with the richest population may not have enough money in its own pockets. Connecticut has roughly half of what it needs to pay future retirement benefits for its workers, meaning the home to scores of hedge funds and some of the country's wealthiest towns is wrestling with financial distress rivaling that of Kentucky or Illinois.
Oct 04, 2015

Connecticut, America’s richest state, has a huge pension problem on.wsj.com/1RpGhTG via @WSJ

MarketAxess Looks to Crack Muni-Bond Code

blogs.wsj.com — The firm at the front of the pack in electronic corporate bond trading is trying to crack the code on an even more antiquated corner of the fixed-income market: municipal bonds. MarketAxess Holdings Inc. is laying the groundwork to connect municipal bond dealers and investors electronically early next year, according to people familiar with the matter.

High-Yield Muni Fund Plays the Edges

wsj.com — Nuveen fund manager John Miller digs around in the corners of the $3.7 trillion municipal-bond market for big bets that might pay off for his High Yield Municipal Bond Fund, an approach once counted as fringe behavior in a market typically described as dull and safe.

Puerto Rico Plan Calls for Spending Cuts, Tax Overhaul

wsj.com — Puerto Rico would cut spending and overhaul taxes under a restructuring plan scheduled for release Wednesday, as investors prepare to negotiate with the U.S. commonwealth over reducing its $72 billion in debt. A summary of the plan says Puerto Rico faces a $28 billion financing gap over the next five years and proposes adjusting taxes, reducing government spending, revamping welfare and the minimum wage, consolidating public schools,...
Sep 09, 2015

Puerto Rico's restructuring plan calls for spending cuts and a tax overhaul, via @kuriloff wsj.com/articles/puert…

Detroit sells first municipal bonds since emerging from bankruptcy

marketwatch.com — Detroit returned to the municipal-bond market for the first time since the city emerged from bankruptcy, selling $245 million of bonds Wednesday to investors demanding a premium for the securities despite extra protections for bondholders.

Puerto Rico Misses Most of $58 Million Debt Payment

wsj.com — Decision Reflects 'Serious Concerns About The Commonwealth's Liquidity' Puerto Rico missed most of a $58 million bond payment Monday, the first default by the U.S. commonwealth in what may become one of the largest restructurings in the history of the $3.7 trillion market for debt sold by U.S. state and local governments.
Aug 03, 2015

Puerto Rico missed most of a $58 million bond payment, the first default by the U.S. commonwealth, via @kuriloff wsj.com/articles/puert…

Aug 03, 2015

Puerto Rico misses most of $58 million debt payment on.wsj.com/1M1ojWu via @WSJ

Aug 03, 2015

Puerto Rico's bringing that summer heat. Officially in default, says WSJ's @kuriloff wsj.com/articles/puert…

Aug 03, 2015

America's #Greece: #PuertoRico triggered biggest municipal default in US history & fears of austerity death spiral. wsj.com/articles/puert…

Show 7 more tweets from Rylee Carlson, Heather Gillers and others...

Deadline Draws Near for Puerto Rico

wsj.com — Investors are bracing for the island to default on about $58 million in bond payments in coming days Investors are bracing for Puerto Rico to miss about $58 million in bond payments in coming days, as the U.S. commonwealth attempts to restructure $72 billion of debt.

Puerto Rico set to default on $58 billion payment this weekend

marketwatch.com — Investors are bracing for Puerto Rico to miss about $58 million in bond payments in coming days, as the U.S. commonwealth attempts to restructure $72 billion of debt. Saturday's deadline could mark the first skipped payment to bondholders since Gov. Alejandro Garcia Padilla last month said that the island's debts were unsustainable and urged negotiations with creditors.

Mutual Funds Are Front and Center in Puerto Rico Talks

wsj.com — Hedge funds are known as heavy buyers of Puerto Rico bonds, but as the U.S. commonwealth works to restructure about $72 billion in debt, it is a pair of mutual-fund firms that may take the lead in negotiations. OppenheimerFunds Inc. and Franklin Advisers Inc.
Jul 19, 2015

Two mutual fund companies own 15% of Puerto Rico's debt. wsj.com/articles/mutua…

Jul 20, 2015

OppenheimerFunds, Franklin Advisers to Figure Prominently in Puerto Rico Debt Talks wsj.com/articles/mutua… via @WSJ

Jul 20, 2015

RT @Chris_Whittall: OppenheimerFunds, Franklin Advisers to Figure Prominently in Puerto Rico Debt Talks wsj.com/articles/mutua… via @WSJ

Show 2 more tweets from Kate Kelly, Jimmy Vielkind

Inside a Sailing Showdown

wsj.com — Some 800 nautical miles east of Newport, in the Atlantic waters south of Newfoundland, a showdown is taking place. The combatants are two tycoons accustomed to coming out on top. The venue is the 2,800-mile Transatlantic Race, one of sailing's most prestigious ocean races.
More Articles →
Sep 24, 2015

RT @cate_long: Puerto Rico announces intention to restructure all debt in one, large tender after meeting w/ creditors #muniland pic.twitter.com/3eBBQWQP08

Sep 22, 2015

David Evans looks at "UBS’s Puerto Rico Wipeout" bloom.bg/1iKnGqj via @bloombergmarkets

Sep 21, 2015

RT @Mike_Cherney: The New Bond Market: Bigger, Riskier and More Fragile Than Ever on.wsj.com/1FoJUaZ via @WSJ

Aug 21, 2015

About 7 million Americans haven’t paid federal student loans in at least a year on.wsj.com/1hQmxwl via @WSJ

Are You a Journalist?

Make a Portfolio

Create a free Muck Rack account to customize your profile and upload a portfolio of your best work.