20 articles in this subtopic.
Municipal disclosure is voluntary and uneven. Learn to navigate EMMA, interpret the 14 reportable events, assess disclosure quality, and identify red flags that…
Analyze water, sewer, electric, and transportation revenue bonds through the essentiality lens that explains why some revenue streams maintained payments throug…
What Puerto Rico's restructuring and other territorial defaults reveal about unique risks in non-state municipal bonds.
Compare separately managed accounts and ETFs for municipal bond exposure, weighing tax efficiency, customization, liquidity, and minimum investment requirements…
Master the mechanics of municipal bond refundings, escrowed-to-maturity structures, and how the 2017 Tax Cuts and Jobs Act reshaped refinancing strategies.
State and local municipal credits have systematically different risk profiles. Master the key metrics for each issuer type: pension funding ratios, rainy day re…
Why below-investment-grade municipal bonds demand rigorous credit analysis, and how to distinguish distressed opportunities from value traps.
529 plan-linked municipal securities merge education savings and tax strategy; understanding their mechanics and risks is critical for optimizing returns.
Essential municipal bond terminology defined with precision. From AMT to yield-to-worst, the vocabulary you need for muni investing.
Evaluate bond insurance economics in the post-2008 market where Assured Guaranty and BAM control 100% of new issuance, and learn when insurance adds value versu…
Master the unique liquidity dynamics of municipal securities. Learn bid-ask spread patterns, retail vs. institutional pricing, and strategies to avoid being tra…
Explore the landmark Build America Bonds program that transformed municipal finance. Learn how BABs worked, why they attracted new investors, and what the exper…
Track legislative developments that could alter municipal bond tax treatment, with frameworks for assessing probability, timing, and portfolio impact.
Understand how states and localities fund bridges, water systems, and transit through municipal debt. Learn the revenue pledges, credit structures, and risk fac…
Analyze sector-specific revenue bonds with frameworks for hospital credit metrics, education enrollment risk, and transportation demand stress testing.
Calculate true after-tax returns with precise formulas for federal, state, and NIIT tax savings, including worked examples for high-tax states like California a…
Master the fundamental distinction between GO and revenue bonds through Detroit's bankruptcy lens, where ULTGO bondholders recovered 75 cents while water/sewer …
Private activity bonds are subject to Alternative Minimum Tax, reducing their after-tax yield for high-income investors. Learn how to calculate your AMT cushion…
Learn from Detroit, Puerto Rico, Jefferson County, and other major municipal defaults to understand how credit risk manifests and what warning signs to watch fo…
State-specific municipal bond funds—portfolios concentrated in a single state's issuers—show up in high-tax-state portfolios as the difference between keeping 5…
