It's a Bull Market in Puerto Rico 🌤️ The Morning Print

Good morning! 

I just got back from a trip to Puerto Rico, where I did some boots on the ground research.

My biggest takeaway: It's a bull market in PR.

The island’s three largest banks are also breaking out to new 16-year highs relative to the Financials sector.

Let's take a look.

Puerto Rico is an incredible place.

I ate some amazing food, learned about their history, and got to experience the most beautiful beaches I've ever seen.

One thing that also really caught my attention, was the pace of development.

I saw tons of construction projects, and what looked to be like some great potential opportunities.

Expansion requires capital, and their biggest publicly traded companies are banks, three in particular.

When you benchmark those banks against the Financials sector, they’re pushing to the highest levels since 2010.

You don’t get bull markets without participation from Financials, and right now, that’s exactly what’s emerging in Puerto Rico.