Download All About Bonds and Bond Mutual Funds: The Easy Way to Get by Esme Faerber PDF

By Esme Faerber

The typical source of revenue investor does not wish or have to get slowed down in technical discussions of rates of interest and time. So All approximately Bonds and Bond Mutual money provides them what they want­­a basic but finished therapy of bonds and bond money. besides up to date bond info, this revised version additionally comprises new fabric on: * Bond mutual money * Tax-free municipal bonds * overseas bonds and bond cash

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The coupon rate. ■ Frequency of interest payments (annual or semiannual). ■ Maturity date. ■ Call provision, if any. This provision allows the issuer of the bonds to call them in and repay them before maturity. ■ Refunding provision, if any. This provision allows the issuer to obtain the proceeds with which to repay the bondholders when the issue matures by issuing new securities. ■ Sinking fund provision, if any. This provision offers bondholders greater security in that the issuer sets aside earnings to retire the issue.

Bear in mind that there are occasions when shortterm interest rates exceed longer-term interest rates. The structure of interest rates, which determines the yield curve, will vary according to economic conditions, which is discussed later in this chapter. There are many different short-term IOUs which are negotiable and actively traded in the money market. The money market is a collection of markets consisting of brokers and dealers who trade in billions of dollars of short-term securities—Treasury bills, bankers’ acceptances, negotiable certificates of deposit, and commercial paper, among others.

In reality, it is difficult to match the yield-to-maturity rate for the interest received because interest rates are constantly changing. The interest received is usually reinvested at different rates from the stated yield-to-maturity rate. Some readers may throw in the towel at this stage because the yield to maturity can’t even convey a dependable rate of return for a bond. The yield to maturity is useful, however, in comparing and evaluating different bonds of varying quality with different coupons and prices (Thau, 1992, p.

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