Smaller issuers like municipalities in Iowa, North Dakota have done well and supply may play a factor.
Not exact matches
These include big names,
like Charles Schwab and ALPS, and many
smaller, specialty
issuers,
like Serenity Shares and ACSI Funds.
Or perhaps Congress should have allowed for the creation of a true
small -
issuer market
like the Alternative Investment Market in London.
Beyond its rewards program,
small improvements upon a customer's user experience
like this make American Express our favorite credit card
issuer for Uber.
The reason I ask is that many of the card
issuers have
small giveaways
like t - shirts in exchange for filling out an application.
Now, for a city
like Los Angeles, maybe that's not needed, but most municipalities are
small issuers, and there is not enough manpower at bond managers to analyze them all.
Our results indicate that
like many types of structured products, DDs tend to be priced at a significant premium to present value across
issuers and underlying securities and that the present value of the decomposition is
smaller than the face value net of commissions.