The universe of high yield municipal investments is truly limited only by investment bankers’ imagination (and by the current tax code). Chapters 10 through 12 are designed to give interested investors a feel for the great diversity of opportunities that may be available in the marketplace at any time. Because of this great diversity, some relatively significant sectors are bound to be overlooked (hotel and convention centers come to mind), something we intend to remedy in future editions. Our intention is not to provide a comprehensive how-to-analyze guide to the individual types of high yield instruments. Rather, you should view this as a “primer” into the various sectors, with an emphasis on their historical track record, trading, and liquidity characteristics. The contributors to this chapter range from grizzled market veterans to rising analytical stars of the municipal research community, all recognized experts in their respective fields. I am grateful for their kind and insightful contributions. We begin with the most common high yield municipals an investor is likely to encounter in the marketplace.