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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.
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 ...
On March 28, 2008, UBS AG said it was marking down the value of auction rate securities in brokerage accounts from a few percentage points to more than 20%. The markdowns reflected the estimated drop in value of the securities because the market had frozen, while UBS didn't offer to buy the securities at the new lower prices. [11]
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The same 3 percent muni bond now has a tax-equivalent yield of 5 percent. In general, a taxable bond would need to pay more than 5 percent before you’d earn more after-tax than with the 3 ...
According to this rule, if the discount at which a bond is purchased in the secondary market is less than 0.25% of the face value for each full year from the purchase date to the bond’s maturity ...
While insured bonds accounted for more than half of the market in 2005, merely 4% percent of muni issues were insured in the first half of 2012. [10] BAM began writing coverage that September, after the New York State Department of Financial Services issued its license. [11] The company’s initial focus was issues of less than $75 million.
If you’re thinking about buying municipal bonds, here are your options.