The definitive new edition of the most trusted book on municipalbonds
As of the end of 1998, municipal bonds, issued by state or localgovernments to finance public works programs, such as the buildingof schools, streets, and electrical grids, totaled almost $1.5trillion in outstanding debt, a number that has only increased overtime. The market for these bonds is comprised of many types ofprofessionals--investment bankers, underwriters, traders,analysts, attorneys, rating agencies, brokers, andregulators--who are paid interest and principal according to afixed schedule. Intended for investment professionals interested inhow US municipal bonds work, The Fundamentals of MunicipalBonds, Sixth Edition explains the bond contract and recentchanges in this market, providing investors with the informationand tools they need to make bonds reliable parts of theirportfolios.
* The market is very different from when the fifth edition waspublished more than ten years ago, and this revision reassertsFundamentals of Municipal Bonds as the preeminent text inthe field
* Explores the basics of municipal securities, including theissuers, the primary market, and the secondary market
* Key areas, such as investing in bonds, credit analysis,interest rates, and regulatory and disclosure requirements, arecovered in detail
* This revised edition includes appendixes, a glossary, and alist of financial products related to applying the fundamentals ofmunicipal bonds
* An official book of the Securities Industry and FinancialMarkets Association (SIFMA)
With today's financial market in recovery and still highlyvolatile, investors are looking for a safe and steady way to growtheir money without having to invest in stocks. The bond market hasalways been a safe haven, although confusing new bonds and bondfunds make it increasingly difficult for unfamiliar investors todecide on the most suitable fixed income investments.