The Fundamentals of Municipal Bonds

This informative volume is a thoroughly revised and updated edition of the classic text on the municipal securities market. Written by Neil O'Hara for the Securities Industry and Financial Markets Association (SIFMA)—the principal trade group representing securities firms and banks active in the municipal bond market—the Sixth Edition of The Fundamentals of Municipal Bonds provides comprehensive coverage of the many developments in the municipal securities market that have taken place in recent years. It provides a basic understanding of the market for a wide range of readers, including experienced professionals—such as investment bankers, traders, brokers, and professional investors—as well as public officials, academicians, students, and sophisticated individuals.

With today's financial market in recovery from the Great Recession—and still highly volatile—investors are looking for a stable, reliable, and safe source of investment income. The municipal bond market has always been a safe haven, and Fundamentals helps market observers sort through the many products and features to make the best investment choices. This book cuts through the noise to get to the facts that any investor needs to know.

Along with an extensive glossary of municipal bond terminology and a bibliography covering relevant print and online sources, as well as thorough descriptions of products prevalent in the market, the book provides detailed explanations and a variety of relevant examples to illuminate crucial areas such as

  • The basics of municipal securities

  • Financial products

  • Issuers

  • Primary and secondary markets

  • Investing in bonds

  • Credit analysis and understanding interest rates

  • Disclosure and regulatory requirements

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 new edition.

"Writer Neil O'Hara has performed a feat of clarity and omniscience..."

- Jim Lebenthal, Lebenthal & Co

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