The Handbook of Municipal Bonds

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  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2008-04-25
  • Publisher: Wiley
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Supplemental Materials

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In The Handbook of Municipal Bonds, editors Sylvan Feldstein and Frank Fabozzi provide traders, bankers, and advisors-among other industry participants-with a well-rounded look at the industry of tax-exempt municipal bonds. Chapter by chapter, a diverse group of experienced contributors provide detailed explanations and a variety of relevant examples that illuminate essential elements of this area. With this book as your guide, you'll quickly become familiar with both buy side and sell side issues as well as important innovations in this field.

Author Biography

Sylvan G. Feldstein, PhD, is a Director in the Investment Department of the Guardian Life Insurance Company of America, specializing in tax-exempt, taxable, and non-U.S. municipal bonds. Prior to this, he was a research manager and analyst at major Wall Street broker-dealers and a rating agency. A graduate of Columbia University, Feldstein has won the Analyst of the Year Award from the National Federation of Municipal Analysts in addition to authoring or editing four other municipal bond industry books.

Frank J. Fabozzi, PhD, CFA, is Professor in the Practice of Finance at Yale University's School of Management and the Editor of the Journal of Portfolio Management. In 2002, he was inducted into the Fixed Income Analysts Society Hall of Fame and, in 2007, was the recipient of the C. Stewart Sheppard Award given by the CFA Institute.

Table of Contents

About The Editors
Contributing Authors
The Sell Side: The Originators of Deals
The Central Place of States and Local Governments in American Federalism
An Overview of Investment Banking
Chapter 3. Role of the Financial Advisor
Method of Sale in the Municipal Bond Market
The Role of Bond Counsel in Public Agency Financing
The Role of Counsel to the Underwriters
Summary of Federal Tax Requirements for Tax-Exempt Bonds
The Role of the Municipal Bond Trustee
The Last Resort for Financially Distressed Municipalities
Subnational Infrastructure Finance in the Emerging Markets: A Financial Guaranty Perspective
The Role of the Rating Agencies
Municipal Bond Refundings
Public-Private Partnerships
The Sell Side: Distribution and Market-Making Roles
The Role of Underwriter
The Roles of Traders and Brokers
Municipal Arbitrage and Tender Option Bonds
Interest Rate Swaps and Their Application to Tax-Exempt Financing
The Regional Firm: Its Customers, Traders, and Institutional Salespeople
Changing Roles of Buyers and Sellers of Municipal Bonds: One Participant's View
The Depository Trust Company and Real-Time Price Transparency
i-Deal/Ipreo: the Transaction Platform
Compliance Issues
The Municipal Securities Rulemaking Board
The Role of the Securities and Exchange Commission
Sarbanes-Oxley and the Securities and Exchange Commission
Using Auditing Techniques to Develop Investment Adviser Compliance Procedures
Rule 2a-7: Legal and Research Issues for Tax-Exempt Money Market Funds 9
Fixed Income Analysis of Municipal Products
Evaluation of Municipal Bonds
Valuation of Municipal bonds with Embedded Options
Analyzing and Evaluating Tax-Exempt Indexed Floaters: Investor and Issuer Perspectives
Municipal Inverse Floating Rate Securities
Analyzing Portfolios Daily
Discovering Relative Value Using Custom Indices
Municipal Bond Swaps
The Tax Treatment of Municipal Bonds
The Buy Side: Institutional Investors
Managing a National Municipal Bond Fund
Managing a High-Yield Municipal Fund
Managing Municipal bonds for Property and Casualty Insurance Companies for Total Return
Table of Contents provided by Publisher. All Rights Reserved.

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