Why Puerto Rico's Default Isn't All Bad News

Puerto Rico just had its biggest default ever by missing $911 million of payments due on July 1. While the move couldn't exactly be called good, it carried some kernels of optimism, especially for bond traders and insurers, if not for the commonwealth's residents. Lisa Abramowicz, a Bloomberg Gadfly columnist, explains on "Bloomberg Markets." Her opinions are her own. (Source: Bloomberg)

S&P Cut China's Rating on Debt Threat
57:08 - Bloomberg's Tom MacKenzie reports on S&P's downgrade of China. He speaks on "Bloomberg Daybreak: Asia." (Source: Bloomberg)
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