Gyroscopic Investing

Puerto Rico defaulted on a $58 million bond payment on Monday, a risky move that seemed to intensify the pressure on creditors for broader debt renegotiation, but might also make future borrowing far more difficult.

Whether Puerto Rico would make the payments has been a subject of intense speculation among legal and financial experts for days as Monday’s deadline approached. Although the island did make a payment on the interest of about $628,000, it said it lacked the funds to make the full payment.