Encyclopedia of Quantitative Finance (Wiley), 2009
Posted: 17 Oct 2012
Date Written: 2009
Municipal bonds are bonds issued by local and state governments to raise funds for public works with interest payment(s) that are generally exempt from federal taxes, and often from state and local taxes as well.
Keywords: municipal bonds, tax free, tax exempt, municipal bond arbitrage, munis, muni bonds, tax arbitrage, fixed income arbitrage, tender option bond (TOB), variable-rate demand obligation (VRDO), public finance
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