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BNET Business Dictionary
- Municipal Bond
- in the United States, a security issued by states, local governments, and municipalities to pay for special projects such as highways
- Municipal Bond definition on BNET »
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- Municipal Bond
- This tutorial articulates about Municipal bond. Municipal bonds, sometimes referred to as "munis", are debt securities issued by a state, municipality or county, to finance its capital expenditures. Such expenditures might include the construction of highways, bridges or schools. Munis are bought for their favorable tax implications and are popular...
- White papers
- Tax Equivalent Yield Calculator
- This tax equivalent yield tool will estimate the tax-equivalent yield, or TEY, for a municipal bond. Income generated from municipal bond coupon payments are not subject to federal income tax. In addition, if the bond was issued in the state of residence, you can also avoid state income taxes. Use...
- White papers 2009-01-01
- Testing the Effects of Sale Method Restrictions in Municipal Bond Issuance: The Case of New Jersey
- Can state governments save money by restricting the practice of selling tax-exempt bonds through negotiation, or do such regulations impose additional costs? Circumstances in New Jersey recently created a natural experiment to test this proposition. This study finds significant cost savings for those issues sold through competition both before and...
- White papers 2003-01-01
- Earn Tax-Free Income With Municipal Bonds
- Nobody likes to pay taxes. That's why investors naturally are interested in earning tax-free income. Municipal bond issues are a very popular way to earn tax-free income and, if income is reinvested, achieve tax-free compounding of returns. Municipal bonds (also known as "Munis") are fixed-income investments that can provide higher...
- White papers 2008-01-01
- Liquidity, Default, Taxes and Yields on Municipal Bonds
- This paper examines the relative yields of Treasuries and municipals using a generalized model that includes liquidity as a state factor. Using a unique transaction dataset, it is able to estimate the liquidity risk of municipals and its effect on bond yields. It is found that a substantial portion of...
- White papers 2005-07-08
- Which Bond Is Better?
- This calculator compares rates of return, before and after taxes, for two bond investments. User can select a Treasury security, corporate bond or municipal bond. Treasury securities are exempt from state income taxes. Municipal bonds are exempt from federal income taxes. In some cases, muni bonds are also exempt from...
- Tools & templates 2008-01-01
- How Prevalent Is Tax Arbitrage? Evidence From the Market for Municipal Bonds
- Although tax arbitrage is central to the literatures on tax capitalization, implicit taxes, and even capital structure, there is little empirical evidence of the extent to which firms actually engage in tax arbitrage. This paper provides some evidence on the topic by focusing on a simple and observable corporate arbitrage...
- White papers 2002-08-01
- Unit Investment Trusts
- Tax-exempt unit investment trusts represent one of the simplest ways for Americans to invest in tax-exempt municipal bonds. They offer a wide range benefits, including: Attractive current income free from federal and, in some cases, state and local taxes; High degree of safety with regard to payment of interest and...
- White papers 2003-01-01
- Municipal Bonds: When "Tax-Free" Isn't So Free
- Municipal bonds have long been an attractive investment option for tax-sensitive investors, because munis are free of federal income tax and often state tax too. Add in the fact that munis generally have relatively higher credit quality and lower price volatility than comparable taxable bonds, and munis could trump corporate...
- White papers 2006-01-11
Additional Resources
- Should I Buy A Zero Coupon Bond?
- This calculator compares two bond investments buying a bond at a substantial discount to par value and receiving no coupon (a zero-coupon bond), and buying a bond with a coupon. User can select a Treasury security, corporate bond or municipal bond. Treasury securities are exempt from state income taxes. Municipal...
- Tools & templates 2008-01-01
- Higher Taxes for the Mass Affluent
- A multitude of recent and proposed law changes aim to raise the taxes of people like you. Here are a few key steps that could help you head off these impending tax hikes. ...
- Articles 2009-05-04
- Marginal Stockholder Tax Effects And Ex-Dividend Day Behavior
- This article test for ex-dividend effects on a sample that has not been previously examined: closed-end mutual funds. What makes this sample exciting is that it contains a set of securities municipal bond funds for which the ex-dividend price drop should be greater than the dividend if taxes matter as...
- White papers 2002-10-01
- Municipal Bonds
- Municipal bonds are debt obligations issued by states, cities, counties and other governmental entities to raise money to build schools, highways, hospitals and sewer systems, as well as many other projects for the public good. When one purchase a municipal bond, one are lending money to an issuer who promises...
- White papers 2003-01-01
- SSgA Files for VRDO Muni Bond ETF
- IndexUniverse submits: With market volatility still a concern and Treasury yields relatively low, State Street Global Advisors has filed to launch a new municipal bond exchange-traded fund. The SPDR S&P Municipal VRDO ETF will track an index of variable rate demand obligations. Those are debt issues by...
- External links 2009-04-16
- Municipal Bonds Rally
- Hickey and Walters Bespoke submit: Municipal bonds have made a huge comeback since they tanked in late 2008. After falling to $88, the national municipal bond ETF MUB just recently hit an all-time high of $104.3. The trading in munis runs counter to the concerns people...
- External links 2009-09-16
- Best Buys on Bonds
- Despite the nascent stock-market rally, the once-stodgy bond market remains the hot new thing for wary investors. Corporate and municipal bonds offer some temptingly high yields. Treasuries promise a safe haven. But the market is riddled with risks. Learn how to avoid them... Although stocks have bounced back in recent...
- Articles 2009-03-17
- TIPS for Inflation: August 2009 Mutual Fund Focus
- News and analysis from Standard & Poor's MarketScope AdvisorLike income taxes, junk mail, health care reform, and Barry Manilow, some things just don't go away. For investors, inflation is the guest that won't leave, reappearing unexpectedly from some hidden recess at the most inconvenient moment.As it turns out, Wall Street...
- News items 2009-08-25
- What You Need To Know About Investing In Municipal Bonds
- Municipal bonds are the only sector of the bond market where the primary buyers are individual investors. The chief attraction of munis municipal bonds is that they are exempt from federal taxes. If a person is a resident of the state issuing the bonds, they are also exempt from state...
- White papers 2002-10-01
- Lessons from Your '08 Return
- Your 2008 taxes are done. Congrats! But you're not done yet. This is the perfect time to look for ways to lower your 2009 taxes, while you have all your records and forms handy. The sooner you get started, the more you'll save. ...
- Articles 2009-04-03
- Fidelity Investments Launches Spartan Tax-Free Bond Fund; Fidelity Introduces New Fund Investing in Bonds Whose Interest is Exempt From Federal Income and Alternative Minimum Taxes
- Business Editors BOSTON--BUSINESS WIRE--April 18, 2001 Fidelity InvestmentsR today introduced Spartan Tax-Free Bond Fund to meet increasing investor demand for a federal tax-free bond fund. The fund will normally invest in municipal securities whose interest is exempt from federal income taxes, and will normally limit investment in municipal...
- Research articles 2001-04-18
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