July 2011
Beginner
288 pages
7h 22m
English
Content preview from BOND MATH: The Theory Behind the FormulasBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Municipal Bonds
Municipal bonds (munis) issued by state and local governments in the U.S. are an important sector in fixed-income markets because the interest income is exempt from federal taxation. Issuers are not allowed to “arbitrage” the market—that is, they are not allowed to issue debt at low yields due to the exemption and turn around and invest the funds at a higher rate. The exempt status of munis appeals to wealthy individuals and some institutions as part of their tax management strategies. Investors might also be exempt from state and local income taxes if they reside in the issuer's locality. That can definitely matter to those of you living in certain high-tax East Coast cities and states.
Investors often evaluate a municipal bond ...
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I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
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