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Author : Daniel L. Rubinfeld
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.3/5 (91 download)
Download or read book Credit Ratings and the Market for General Obligation Municipal Bonds written by Daniel L. Rubinfeld and published by . This book was released on 1972 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : SIFMA
Publisher : John Wiley & Sons
ISBN 13 : 0470903384
Total Pages : 326 pages
Book Rating : 4.4/5 (79 download)
Download or read book The Fundamentals of Municipal Bonds written by SIFMA and published by John Wiley & Sons. This book was released on 2011-12-06 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive new edition of the most trusted book on municipal bonds As of the end of 1998, municipal bonds, issued by state or local governments to finance public works programs, such as the building of schools, streets, and electrical grids, totaled almost $1.5 trillion in outstanding debt, a number that has only increased over time. The market for these bonds is comprised of many types of professionals—investment bankers, underwriters, traders, analysts, attorneys, rating agencies, brokers, and regulators—who are paid interest and principal according to a fixed schedule. Intended for investment professionals interested in how US municipal bonds work, The Fundamentals of Municipal Bonds, Sixth Edition explains the bond contract and recent changes in this market, providing investors with the information and tools they need to make bonds reliable parts of their portfolios. The market is very different from when the fifth edition was published more than ten years ago, and this revision reasserts Fundamentals of Municipal Bonds as the preeminent text in the field Explores the basics of municipal securities, including the issuers, the primary market, and the secondary market Key areas, such as investing in bonds, credit analysis, interest rates, and regulatory and disclosure requirements, are covered in detail This revised edition includes appendixes, a glossary, and a list of financial products related to applying the fundamentals of municipal bonds An official book of the Securities Industry and Financial Markets Association (SIFMA) With today's financial market in recovery and still highly volatile, investors are looking for a safe and steady way to grow their money without having to invest in stocks. The bond market has always been a safe haven, although confusing new bonds and bond funds make it increasingly difficult for unfamiliar investors to decide on the most suitable fixed income investments.
Author : Paul G. Farnham
Publisher :
ISBN 13 :
Total Pages : 110 pages
Book Rating : 4.:/5 (319 download)
Download or read book The Municipal Bond Rating Process written by Paul G. Farnham and published by . This book was released on 1981 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Twentieth Century Fund. Task Force on Municipal Bond Credit Ratings
Publisher :
ISBN 13 :
Total Pages : 180 pages
Book Rating : 4.:/5 (49 download)
Download or read book The Rating Game written by Twentieth Century Fund. Task Force on Municipal Bond Credit Ratings and published by . This book was released on 1977 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : The Bond Market Association
Publisher : John Wiley & Sons
ISBN 13 : 0471393657
Total Pages : 290 pages
Book Rating : 4.4/5 (713 download)
Download or read book The Fundamentals of Municipal Bonds written by The Bond Market Association and published by John Wiley & Sons. This book was released on 2001-02-02 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for the Classic Guide to the Bond Market "This is simply the most comprehensive, useful look-it-up book onmunicipal bonds I've ever read (said with all due respect to TheABC of Municipal Bonds my dad wrote in 1937 when I was nine). ReadFundamentals cover to cover. I'm keeping mine in my briefcase,under my arm, at my fingertips. No accountant, financial advisor,attorney, new bond salesman, reporter, regulator, test-writer,cautious, suspicious first-time investor in municipal bonds, ordinner guest is ever going to catch me again with a question aboutmunicipal bonds I can't answer."-Jim Lebenthal, Chairman, Lebenthal& Co. "Judy Wesalo Temel gives us the Rosetta stone of the municipal bondmarket, the key to unraveling the many mysteries of 'muni's.' Herbook, a fresh take on the old standard Fundamentals of MunicipalBonds, updates chapter and verse on everything from investing tounderwriting, from over-the-counter to over-the-Internet. The styleis clean, crisp, and as simple as this complex subject can be. Areyou a novice who wonders how to invest in bonds? She lays out thebasics. Examples are easy to follow-even the mathematical ones thatare critical to explaining how municipal bonds work. At the sametime, there is plenty of meat for the pros. Whether you need tostart from square one and learn all about municipal bonds and howthey work, or need a ready reference for specific technicalquestions you run across as a market professional, this book is foryou."-Kathleen Hays, Economics Editor, Credit Markets Reporter, and"Bond Belle" CNBC "This is a must-read for every scholar, banker, and public officialconcerned with local government finance in the United States. JudyWesalo Temel has done the impossible: she has clearly andinsightfully explained how we finance the development of thenation's vital public infrastructure. This is an important book,one that will be required reading for professionals responsible forplanning, designing, and evaluating publicly financed projects-thehealth care, transportation, and educational facilities that allcitizens rely upon. The bond market is an essential element in thelife of local and state government, and this book makes itunderstandable to all Americans."-Mitchell Moss, Henry Hart RiceProfessor of Urban Planning and Director, Taub Urban ResearchCenter, Robert F. Wagner Graduate School of Public Service, NewYork University
Author : Twentieth Century Fund. Task Force on Municipal Bond Credit Ratings
Publisher :
ISBN 13 :
Total Pages : 180 pages
Book Rating : 4.3/5 (512 download)
Download or read book The Rating Game written by Twentieth Century Fund. Task Force on Municipal Bond Credit Ratings and published by . This book was released on 1974 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Innoware Pjp
Publisher : Independently Published
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.3/5 (98 download)
Download or read book Tax-Free Income written by Innoware Pjp and published by Independently Published. This book was released on 2023-06-12 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tax-Free Income: A Comprehensive Guide to Investing in Municipal Bonds Municipal bonds are a type of debt security issued by state and local governments in order to finance public projects such as infrastructure, schools, and hospitals. Municipal bonds are typically exempt from federal income taxes, and may also be exempt from state and local taxes for investors who reside in the state where the bonds are issued. The book covers the following: Chapter 1: Introduction to Municipal Bonds 1.1 What Are Municipal Bonds? 1.2 Advantages and Benefits of Municipal Bonds 1.3 Different Types of Municipal Bonds 1.4 Role of Municipal Bonds in Public Finance 1.5 Understanding the Municipal Bond Market Chapter 2: The Basics of Bond Investing 2.1 Bond Basics: Definitions and Key Concepts 2.2 How Bonds Work: Issuers, Coupon Rates, and Maturity 2.3 Risks and Rewards of Investing in Bonds 2.4 Factors Affecting Bond Prices and Yields 2.5 Diversification and Asset Allocation Strategies Chapter 3: Understanding Municipal Bond Credit Ratings 3.1 Importance of Credit Ratings in Municipal Bonds 3.2 Credit Rating Agencies and Their Methodologies 3.3 Evaluating Bond Creditworthiness and Risk 3.4 Impact of Credit Ratings on Bond Prices and Yields 3.5 Monitoring and Assessing Credit Ratings Changes for Bonds Chapter 4: Assessing Municipal Bond Market Conditions 4.1 Overview of the Municipal Bond Market 4.2 Market Participants in Municipal Bond Market: Issuers, Underwriters, and Investors 4.3 Analyzing Supply and Demand Factors in Municipal Bond Market 4.4 Interest Rate Environment and Yield Curve Analysis 4.5 Tracking Market Indicators and Economic Data for Municipal Bond Investing Chapter 5: Investing in General Obligation Bonds 5.1 Introduction to General Obligation (GO) Bonds 5.2 Understanding GO Bond Structures and Security 5.3 Analyzing GO Bond Repayment Sources 5.4 Assessing Risks and Creditworthiness of GO Bonds 5.5 Case Studies and Examples of GO Bond Investments Chapter 6: Investing in Revenue Bonds 6.1 Introduction to Revenue Bonds 6.2 Types of Revenue Bonds: Essential Service and Non-Essential Service 6.3 Evaluating Revenue Sources and Debt Service Coverage 6.4 Analyzing Revenue Bond Covenants and Security 6.5 Case Studies and Examples of Revenue Bond Investments Chapter 7: Tax Considerations for Municipal Bond Investors 7.1 Tax Benefits of Municipal Bonds 7.2 Understanding Tax-Exempt and Taxable Municipal Bonds 7.3 Impact of Tax Bracket on Bond Yield Calculation 7.4 Evaluating Alternative Minimum Tax (AMT) Risks for Municipal Bond Investors 7.5 Tax Reporting and Compliance for Municipal Bond Investors Chapter 8: Building a Municipal Bond Portfolio 8.1 Setting Investment Objectives and Risk Tolerance for a Municipal Bond Portfolio 8.2 Portfolio Diversification Strategies for a Municipal Bond Portfolio 8.3 Selecting Municipal Bonds Based on Maturity and Yields 8.4 Assessing Liquidity and Marketability of Muni Bonds 8.5 Portfolio Monitoring and Rebalancing Techniques for Muni Bonds Chapter 9: Risks and Mitigation Strategies in Municipal Bond Investing 9.1 Interest Rate Risk and Duration Analysis in Municipal Bond Investing 9.2 Credit Risk and Default Probability Assessment in Municipal Bond Investing 9.3 Prepayment and Call Risk in Municipal Bonds 9.4 Liquidity Risk and Marketability Considerations in Municipal Bond Investing 9.5 Strategies for Mitigating Risks in Municipal Bond Investments Chapter 10: Secondary Market Trading and Pricing of Municipal Bonds Chapter 11: Evaluating Municipal Bond Funds and ETFs Chapter 12: Advanced Topics in Municipal Bond Investing
Author : Sylvan G. Feldstein
Publisher : John Wiley & Sons
ISBN 13 : 1118044940
Total Pages : 1381 pages
Book Rating : 4.1/5 (18 download)
Download or read book The Handbook of Municipal Bonds written by Sylvan G. Feldstein and published by John Wiley & Sons. This book was released on 2011-01-13 with total page 1381 pages. Available in PDF, EPUB and Kindle. Book excerpt: In The Handbook of Municipal Bonds, editors Sylvan Feldstein and Frank Fabozzi provide traders, bankers, and advisors—among other industry participants—with a well-rounded look at the industry of tax-exempt municipal bonds. Chapter by chapter, a diverse group of experienced contributors provide detailed explanations and a variety of relevant examples that illuminate essential elements of this area. With this book as your guide, you’ll quickly become familiar with both buy side and sell side issues as well as important innovations in this field.
Author : SIFMA
Publisher : John Wiley & Sons
ISBN 13 : 1118166841
Total Pages : 326 pages
Book Rating : 4.1/5 (181 download)
Download or read book The Fundamentals of Municipal Bonds written by SIFMA and published by John Wiley & Sons. This book was released on 2011-10-25 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive new edition of the most trusted book on municipal bonds As of the end of 1998, municipal bonds, issued by state or local governments to finance public works programs, such as the building of schools, streets, and electrical grids, totaled almost $1.5 trillion in outstanding debt, a number that has only increased over time. The market for these bonds is comprised of many types of professionals—investment bankers, underwriters, traders, analysts, attorneys, rating agencies, brokers, and regulators—who are paid interest and principal according to a fixed schedule. Intended for investment professionals interested in how US municipal bonds work, The Fundamentals of Municipal Bonds, Sixth Edition explains the bond contract and recent changes in this market, providing investors with the information and tools they need to make bonds reliable parts of their portfolios. The market is very different from when the fifth edition was published more than ten years ago, and this revision reasserts Fundamentals of Municipal Bonds as the preeminent text in the field Explores the basics of municipal securities, including the issuers, the primary market, and the secondary market Key areas, such as investing in bonds, credit analysis, interest rates, and regulatory and disclosure requirements, are covered in detail This revised edition includes appendixes, a glossary, and a list of financial products related to applying the fundamentals of municipal bonds An official book of the Securities Industry and Financial Markets Association (SIFMA) With today's financial market in recovery and still highly volatile, investors are looking for a safe and steady way to grow their money without having to invest in stocks. The bond market has always been a safe haven, although confusing new bonds and bond funds make it increasingly difficult for unfamiliar investors to decide on the most suitable fixed income investments.
Author : Bobby Lamb
Publisher : McGraw-Hill Trade
ISBN 13 :
Total Pages : 474 pages
Book Rating : 4.3/5 (512 download)
Download or read book Municipal Bonds written by Bobby Lamb and published by McGraw-Hill Trade. This book was released on 1987 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses the long-range implications of the taxpayers' revolt and its possible effect on municipal finance.
Author : Twentieth Century Fund. Task Force on the Municipal Bond Market
Publisher : McGraw-Hill Companies
ISBN 13 :
Total Pages : 200 pages
Book Rating : 4.3/5 (511 download)
Download or read book Building a Broader Market written by Twentieth Century Fund. Task Force on the Municipal Bond Market and published by McGraw-Hill Companies. This book was released on 1976 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Barry R. Marks
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book The Effect of Municipal Bond Rating Change Announcements on Seasoned Bond Prices written by Barry R. Marks and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In the municipal bond market, announcements of changes in general obligation bond ratings by the rating agencies are typically made concurrently with announcements of new bond issues. Hence, prior research on the information content of municipal bond rating change announcements is subject to the possible confounding effects of concurrent announcements of new bond issues. Jantscher ( 1970) concluded that bonds sell at prices that reflect rating changes prior to the actual change announcement. Ingram et al. (1983), on the other hand, report that municipal bond prices respond contemporaneously to rating change announcements, i.e., that the market is not able to anticipate rating revisions. However, since Ingram et al. (1983) did not control for the potential information effects of concurrent new issues, their results could be misleading, whereas Jantscher only examined new issues. This paper examines the effect of rating change announcements on municipal seasoned bond prices after controlling for the potentially confounding effects of new bond issues.
Author : Joe Mysak
Publisher : John Wiley & Sons
ISBN 13 : 0470884568
Total Pages : 244 pages
Book Rating : 4.4/5 (78 download)
Download or read book Handbook for Muni-Bond Issuers written by Joe Mysak and published by John Wiley & Sons. This book was released on 2010-05-13 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Bloomberg, the authority on municipal bond valuation, this is the first book to give issuers (municipalities and their officers, attorneys, and other advisers) step-by-step tips on (1) lowering the cost of financing and (2) how to do it right and avoid trouble--with the press, with the market, with constituents, and with the Securities and Exchange Commission. With an insider's perspective, Joe Mysak debunks the myths and reveals thepractical realities of today's municipal bond market. Fresh and clearly written, this excellent primer on issuing municipal bonds is a key to the market that no participant should be without.
Author : Christine S. Richard
Publisher : John Wiley & Sons
ISBN 13 : 1118010418
Total Pages : 352 pages
Book Rating : 4.1/5 (18 download)
Download or read book Confidence Game written by Christine S. Richard and published by John Wiley & Sons. This book was released on 2011-03-29 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: An expose on the delusion, greed, and arrogance that led to America's credit crisis The collapse of America's credit markets in 2008 is quite possibly the biggest financial disaster in U.S. history. Confidence Game: How a Hedge Fund Manager Called Wall Street's Bluff is the story of Bill Ackman's six-year campaign to warn that the $2.5 trillion bond insurance business was a catastrophe waiting to happen. Branded a fraud by the Wall Street Journal and New York Times, and investigated by Eliot Spitzer and the Securities and Exchange Commission, Ackman later made his investors more than $1 billion when bond insurers kicked off the collapse of the credit markets. Unravels the story of the credit crisis through an engaging and human drama Draws on unprecedented access to one of Wall Street's best-known investors Shows how excessive leverage, dangerous financial models, and a blind reliance on triple-A credit ratings sent Wall Street careening toward disaster Confidence Game is a real world "Emperor's New Clothes," a tale of widespread delusion, and one dissenting voice in the era leading up to the worst financial disaster since the Great Depression.
Author : Joe Mysak
Publisher : John Wiley & Sons
ISBN 13 : 1118006755
Total Pages : 242 pages
Book Rating : 4.1/5 (18 download)
Download or read book Encyclopedia of Municipal Bonds written by Joe Mysak and published by John Wiley & Sons. This book was released on 2012-01-03 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: An accessible reference that explores every aspect of the municipal bond market Until now, there has been no accessible encyclopedia, dictionary, nor guide to the world of municipal bonds. Comprehensive and objective, this groundbreaking volume covers the history and mechanics of the municipal market in clear and understandable terms. It covers all aspects of the market, including pricing, trading, taxation issues and yields, as well as topical events such as the financial crisis, hysteria about defaults and Chapter 9 municipal bankruptcy, fraud, and regulation. Encyclopedia of Municipal Bonds also contains entries on important historical events and provides much-needed context for this field. Everything you ever wanted to know about municipal bonds in one comprehensive resource Joe Mysak is the author of the Bloomberg bestseller Handbook for Muni Issuers Demystifies the world of municipal bonds for both the novice and professional investor Explores issues such as the Orange County bankruptcy, the Jefferson County default, the New York City financial crisis, and the surprisingly recent creation of the modern municipal market Encyclopedia of Municipal Bonds offers an essential reference guide for investors, professionals, regulators, insurers, and anyone else involved in the municipal bond market.
Author : United States. General Accounting Office
Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.:/5 (31 download)
Download or read book Trends and Changes in the Municipal Bond Market as They Relate to Financing State and Local Public Infrastructure written by United States. General Accounting Office and published by . This book was released on 1983 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Philip Fischer
Publisher : McGraw Hill Professional
ISBN 13 : 0071809767
Total Pages : 284 pages
Book Rating : 4.0/5 (718 download)
Download or read book INVESTING IN MUNICIPAL BONDS: How to Balance Risk and Reward for Success in Today’s Bond Market written by Philip Fischer and published by McGraw Hill Professional. This book was released on 2013-02-01 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: Maximize profits with the perfect balance between risk and reward Municipal bonds have traditionally given investors a reliable investment while providing state and local governments with an essential tool for funding public infrastructure projects. Now, the threat of municipalities defaulting and dramatic changes to the muni market’s fundamental operations have created an attractive hotbed of opportunity for today’s top institutional investors. Investing in Municipal Bonds is the retail investor’s road map to the lucrative market that is fueling the digital and physical highways of the future. Only Dr. Philip Fischer can offer such a brilliantly practical amalgam of big-picture financial theory and nuts-and-bolts bond calculations. His crystal-clear explanation of the muni market covers every aspect, including the various “personalities” and traits of different types of bonds. His hands-on strategies for earning more from your money will keep this book at your fingertips as you customize a profitable municipal bond portfolio to achieve your financial goals. Political and business leaders as well as financial professionals seek Dr. Fischer’s knowledge and firsthand insights into municipal securities, from day-to-day trading to milestone events like the 2008 financial crisis. Investing in Municipal Bonds shows you how it’s done on Wall Street, providing a wealth of pertinent examples from the real world. You can rely on this powerful guidebook for the know-how and skill set you need to confidently: Invest in fixed-rate and variable-rate bonds, including Variable Rate Demand Obligations (VRDOs) Identify different types of bonds and determine how they will be repaid Execute municipal bond-yield calculations Navigate the derivatives market, including LIBOR interest-rate swaps Weigh the benefits of taxable municipal bonds Research municipal securities using the online database of the Municipal Securities Rule Making Board (MSRB) Bond yields will eventually rebound from these historic lows and bring increased risk. Investing in Municipal Bonds will give you the knowledge you need to adjust your risk and balance profi t for continued success toward your financial goals. Praise for Investing in Municiple Bonds: “In addition to an accessible discussion of this unique market’s financial structures, Fischer provides the historical context for why the market evolved the way it did—and how that history may influence municipal bond investments in an era of slow economic growth and rising costs for retirees.” —MICHAEL STANTON, Publisher, The Bond Buyer “If there were a graduate program in Municipal Finance, Dr. Fischer’s treatise would quickly climb to the top of the syllabus.” —JAMES T. COLBY III, Senior Municipal Strategist/Portfolio Manager, Van Eck Global “Dr. Fischer brings a ‘what you need to know’ approach to the novice and the experienced practitioner alike. He poignantly relates how the very nuanced market structure influences and prices this market. Even with my over 25 years in the business, this book earns a trophy spot on my muni reference shelf.” —JOSEPH CAMPAGNA, Senior Vice President, BayernLB, Financial Institutions & Sovereigns “A well-written, thorough, and meticulous primer to the history, the instruments, and the segments that comprise the municipal bond market.” —PROFESSOR JOHN CHALMERS, Abbott Keller Distinguished Research Scholar, Associate Professor of Finance, Charles H. Lundquist College of Business, University of Oregon “If you would like to learn more about municipal bonds so that you know how to check off each item on the checklist, I highly recommend buying Investing in Municipal Bonds.” —DAVID WARING, LearnBonds
