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This results in the "bums" problem, in which less creditworthy issuers with a lot of outstanding debt constitute a larger part of the index than more creditworthy ones with less debt. [5] Quality of price data: the market price used for each bond in the index may be based on actual transactions, a brokerage firm's estimate or a computer model.
EMMA provides free on-line access to centralized new issue municipal securities disclosure documents (known as official statements), [1] on-going continuing disclosures for all municipal securities, [1] escrow deposit agreements for advance refundings (i.e., refinancings) of outstanding bonds, [2] real-time municipal bond trade price ...
The Delaware National High-Yield Municipal Bond Fund invests in medium and lower-grade municipal bonds to generate a high level of current income that is exempt from federal income tax.
A municipal bond, commonly known as a muni, is a bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal bonds is often, but not always, exempt from federal and state income taxation.
Muni bonds are a more attractive option for investors in high-tax states and cities, so investors in those areas should be sure to calculate the tax-equivalent yield on potential muni investments.
The VanEck High Yield Muni ETF seeks to match the investment performance of an index that tracks the U.S. high-yield long-term tax-exempt bond market. The bonds in this fund are generally exempt ...
Municipal bonds, and Treasury Inflation-Protected Securities are excluded, due to tax treatment issues. The index includes Treasury securities, Government agency bonds, Mortgage-backed bonds, Corporate bonds, and a number of foreign bonds traded in U.S. The Bloomberg US Aggregate Bond Index is an intermediate term index.
At maturity bond owners receive their principal back, so bond prices converge toward par value as the bond approaches maturity. For example, a discount bond will increase in price toward par value ...