THE BOND MARKET ASSOCIATION is the trade association representing securities firms and banks that underwrite, trade, and sell debt securities, both domestically and internationally. The Bond Market Association actively speaks for the bond industry, advocating its position and representing its interests in Washington, D.C., New York, Europe, and Asia. The Association's membership collectively accounted for over 97% of the nation's bond underwriting activity in 1999. For more information about the Association, visit www.bondmarkets.com. About the writer JUDY WESALO TEMEL has spent her career in the municipal bond business, on both the broker-dealer and issuer sides. She worked for seventeen years at Goldman, Sachs & Co., following employment at Lehman Brothers, and the Office of the Comptroller of the City of New York. She serves on the boards of several large not-for-profit agencies and speaks and writes widely about many aspects of the business. Temel is a graduate of Cornell University and holds an MPA from New York University.

Klappentext

This informative volume is an update of the long-heralded classic text on the municipal securities market. Written by Judy Wesalo Temel for The Bond Market Association--the leading trade association that represents the players in this market and whose members underwrite 90% of all municipal bonds--this newly revised Fifth Edition deals comprehensively with the many recent developments in the municipal securities market. It provides a basic understanding of the market for a wide range of readers, including experienced professionals, public officials, private investors, academicians, and students. Major changes covered here include:

The explosive growth of technology and e-commerce
New disclosure regulations
Size and composition of the business
Size and composition of investors
The use of credit enhancement
The use of financial products Along with the addition of an extensive new glossary of municipal terminology and a bibliography, The Fundamentals of Municipal Bonds provides detailed explanations and a variety of relevant examples to illuminate crucial areas such as:
The Basics of Municipal Securities
The Issuers
The Primary and Secondary Markets
Investing in Bonds
Credit Analysis and Understanding Interest Rates
Disclosure and Regulatory Requirements
Financial Products Illustrated with numerous tables, charts, and mathematical formulas, this indispensable volume serves as a guide, reference work, and portal to the municipal securities industry. No investor or student of the market can afford to be without this Fifth Edition.

Zusammenfassung
This title is a comprehensive guide to the American municipal bond market. This practical guide provides a necessary understanding of the field for all the major players in municipal bond financing - professionals, public officials, and investors.