municipal and tax advantaged bonds
Educational articles in this subcategory.
Monitoring Legislative Risk for Tax Changes
Municipal bond tax exemption isn't constitutional bedrock. It's legislative policy that Congress can modify or eliminate with a single vote. The point...
Using SMAs vs ETFs for Municipal Exposure
The choice between separately managed accounts and ETFs for municipal exposure isn't just about fees. It's about understanding which wrapper structure...
Disclosure Requirements and EMMA Filings
# Disclosure Requirements and EMMA Filings **Intermediate** | Published: 2025-12-29 ## Why It Matters Unlike corporate bonds (where SEC requi...
Credit Analysis for State vs. Local Issuers
# Credit Analysis for State vs. Local Issuers **Intermediate** | Published: 2025-12-29 ## Why It Matters The municipal bond market contains *...
AMT-Subject Municipal Bonds
# AMT-Subject Municipal Bonds **Intermediate** | Published: 2025-12-29 ## Why It Matters Most investors assume all municipal bonds are tax-fr...
Tax-Equivalent Yield Calculations
# Tax-Equivalent Yield Calculations Municipal bond yields look lower than taxable alternatives, but the comparison is meaningless without adjusting...
Understanding Bond Insurance and Enhancements
# Understanding Bond Insurance and Enhancements Bond insurance transforms municipal credit by substituting an insurer's AA rating for the underlyin...
Essential Service Revenue Streams
# Essential Service Revenue Streams Water, sewer, and electric utilities represent the backbone of municipal revenue bond credit quality, yet inves...
General Obligation vs Revenue Bonds
# General Obligation vs Revenue Bonds General obligation and revenue bonds represent the two fundamental structures in municipal finance, but the d...
Infrastructure Financing via Municipal Bonds
**America's infrastructure runs on municipal bonds.** Of the **$4.2 trillion** in outstanding municipal debt, a substantial portion finances the roads...
Build America Bonds: History and Lessons
**Build America Bonds represented the most significant innovation in municipal finance in decades.** Between April 2009 and December 2010, state and l...
State-Specific Fund Strategies
**State-specific municipal bond funds offer a compelling tax advantage—if you live in the right state.** For investors in high-tax states like Califor...
Liquidity Considerations in Municipal Bonds
**Municipal bonds trade in a fundamentally different market than Treasuries or corporates.** With over **1 million CUSIPs** from **50,000 distinct iss...
Refundings and Escrowed-to-Maturity Issues
# Refundings and Escrowed-to-Maturity Issues When a municipality refinances debt, your bond changes in ways that most investors miss entirely. The ...
Default Case Studies in the Municipal Market
# Default Case Studies in the Municipal Market Municipal bond defaults remain rare events (Moody's reports a **0.0420% ten-year cumulative default ...
Glossary of Municipal Bond Terms
Municipal bonds carry specialized vocabulary that creates barriers for new investors. This glossary defines the **30 essential terms** you'll encounte...
Territorial Bond Lessons for Investors
Puerto Rico's debt crisis restructured **$33 billion in bonded debt** and **$55 billion in pension liabilities** between 2015 and 2022. The territory ...
High-Yield Municipals and Credit Work
High-yield munis sit in a peculiar corner of fixed income. They offer tax-exempt income (often yielding **4-6% federally tax-free**) with stronger cov...
529 Plan-Linked Municipal Securities
Tax-advantaged bonds face dual pressures: regulatory shifts eroding traditional muni yields while investor demand for education-aligned strategies gro...
Evaluating Hospital, Education, and Transportation Deals
# Evaluating Hospital, Education, and Transportation Deals Municipal revenue bonds in healthcare, education, and transportation share a common trai...