The Fundamentals of Municipal Bonds (Wiley Finance)

ThedefinitiveneweditionofthemosttrustedbookonmunicipalbondsAsoftheendof1998,municipalbonds,issuedbystateorlocalgovernmentstofinancepublicworksprograms,suchasthebuildingofschools,streets,andelectricalgrids,totaledalmost$1.5trillioninoutstandingdebt,anumberthathasonlyincreasedovertime.Themarketforthesebondsiscomprisedofmanytypesofprofessionals—investmentbankers,underwriters,traders,analysts,attorneys,ratingagencies,brokers,andregulators—whoarepaidinterestandprincipalaccordingtoafixedschedule.IntendedforinvestmentprofessionalsinterestedinhowUSmunicipalbondswork,TheFundamentalsofMunicipalBonds,SixthEditionexplainsthebondcontractandrecentchangesinthismarket,providinginvestorswiththeinformationandtoolstheyneedtomakebondsreliablepartsoftheirportfolios.Themarketisverydifferentfromwhenthefiftheditionwaspublishedmorethantenyearsago,andthisrevisionreassertsFundamentalsofMunicipalBondsasthepreeminenttextinthefieldExploresthebasicsofmunicipalsecurities,includingtheissuers,theprimarymarket,andthesecondarymarketKeyareas,suchasinvestinginbonds,creditanalysis,interestrates,andregulatoryanddisclosurerequirements,arecoveredindetailThisrevisededitionincludesappendixes,aglossary,andalistoffinancialproductsrelatedtoapplyingthefundamentalsofmunicipalbondsAnofficialbookoftheSecuritiesIndustryandFinancialMarketsAssociation(SIFMA)Withtoday'sfinancialmarketinrecoveryandstillhighlyvolatile,investorsarelookingforasafeandsteadywaytogrowtheirmoneywithouthavingtoinvestinstocks.Thebondmarkethasalwaysbeenasafehaven,althoughconfusingnewbondsandbondfundsmakeitincreasinglydifficultforunfamiliarinvestorstodecideonthemostsuitablefixedincomeinvestments.