To understand how zero coupon
municipal bonds work, it is important first to become acquainted with the principal characteristics of both municipal bonds and the zero coupon structure.
Not exact matches
He also
works as a Fixed - Income Portfolio Manager on the Financial Reserves Management Team, focusing on maximizing relative - value opportunities in the
municipal bond portion of these portfolios.
Prior to joining Hawthorn, Mr. Mills
worked for PNC Capital Markets, most recently, as a Director within the
municipal bond group.
I have
worked in the
municipal bond industry (trader / sales) for almost 2 decades at a major bank.
Specially - privileged capital gains and tax - free
municipal bonds are prime examples of
work - free welfare.
A rule of the federal
Municipal Securities Rulemaking Board (MSRB) prohibits
bond work from going to financial firms that make campaign contributions to public officials who control
bond decisions.
All this goes against the grain of the way that financing U.S. state and local government infrastructure
worked for more than a century: through
municipal bonds.
The firm believes analytical tools that apply to taxable
bonds do not
work properly on tax - exempt
bonds and instead has developed and uses proprietary analytics, including a Net Implied Tax Rate that indicates when we think
municipals offer value.
Let's look closer at what a
municipal bond is, how it
works and how they can be purchased by investors.
He also
works as a Fixed - Income Portfolio Manager on the Financial Reserves Management Team, focusing on maximizing relative - value opportunities in the
municipal bond portion of these portfolios.
He serves as a
municipal bond specialist and joined Schroders in 2013 following the acquisition of STW, where he had
worked since 2010.
There are some issues that are still to be
worked out including how to price these
bonds daily over time; how to use taxable conventions in a state and local
municipal tax exempt
bond framework and whether BABs will be sold after 2010.
Previously at Putnam, Mr. Drury spent a decade as Head of Trading,
Municipal Bonds, where he worked closely with Putnam's portfolio managers to execute trades in various sectors of the municipa
Municipal Bonds, where he
worked closely with Putnam's portfolio managers to execute trades in various sectors of the
municipalmunicipal market.
HTAB seeks to add value by
working to capitalize on imbalances in the relationships among sectors and individual
bonds, spanning both tax - exempt
municipals and US dollar - denominated taxable
bonds.
It
works with any type of coupon
bond, including
municipals.
Municipal bonds are issued by states, cities and counties, often to fund public
works projects, frequently involving infrastructure.
There are inflation - indexed
bonds that may
work to some degree and depending on your investment accounts
municipal bonds may also be something to consider here.
Before joining Fidelity, he
worked as a
municipal bond attorney at Mintz, Levin in Boston from 2001 until 2007.
Altogether, I have authored and co-authored more than 80 articles on
municipal bonds, including seminal
works dating back to the 1970s, on securities law application to
municipal bond transactions and articles on fiduciary duties of certain professionals.
I have
worked in billions of dollars of successful transactions in
municipal bond offerings, workouts of defaulted and other troubled
municipal bond issues conducted by others, and corporate finance transactions benefiting local governments and private corporations in approximately two dozen states.
Our team
works alongside our Public & Infrastructure Finance Practice, which advises governments, nonprofit corporations and financial institutions on
municipal bonds and capital financing programs.