All About Bonds, Bond Mutual Funds, and Bond ETFs by Esme Faerber

By Esme Faerber

Access the unparalleled capability of bond making an investment!

Bonds have come some distance lately. now not only a quite secure and safe funding, bonds now supply the opportunity of capital appreciation as well as curiosity source of revenue. All approximately Bonds, Bond Mutual cash, and Bond ETFs is the most important to knowing either conventional and new forms of bond investments.

This special yet obtainable advent covers every little thing from uncomplicated bond features to fixed-income funding suggestions. you are going to achieve an intensive schooling on such themes as yield, liquidity, length, convexity, valuation, and rising markets and locate the solutions to many questions a bond investor will ask, such as:

  • What percent of my portfolio may be devoted to bonds?
  • What are the latest items and the place do i locate them?
  • What are the hazards concerned with making an investment in bonds, bond mutual cash and bond ETFs?
  • How am i able to use the net to my advantage?

Whether you are fascinated by the bond industry already or approximately to go into it, All approximately Bonds, Bond Mutual money, and Bond ETFs will consultant you although the method of selecting the simplest bonds on your wishes, comparing their functionality, and handling a bond portfolio.

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All About Bonds, Bond Mutual Funds, and Bond ETFs

Entry the extraordinary power of bond making an investment! Bonds have come a ways lately. now not only a particularly secure and safe funding, bonds now supply the potential of capital appreciation as well as curiosity source of revenue. All approximately Bonds, Bond Mutual cash, and Bond ETFs is the foremost to realizing either conventional and new different types of bond investments.

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Extra resources for All About Bonds, Bond Mutual Funds, and Bond ETFs

Sample text

The bondholder is denied the choice in the matter. Chapter 12 discusses convertible bonds in greater detail. TAXES Taxes diminish investors’ returns, and so it becomes important to choose those investments that enhance investors’ rates of return. Interest income from Treasury bonds, agency bonds, and corporate bonds is taxed at ordinary rates (the investor’s marginal tax rate) at Characteristics of Bonds 27 the federal level. Interest income from a municipal bond is generally exempt from federal taxes.

CHAPTER 2 24 BOND PROVISIONS Investors should always check the provisions of a bond issue before investing. Corporate bond issues invariably contain a call provision, refunding provision, put provision, or sinking fund provision. These provisions can work for or against the investor; therefore, it is important to understand these specific characteristics. Investors should read and understand the details in these provisions before investing. For new bond issues, investors should obtain a final prospectus that contains the details of these provisions.

Reinvestment rate risk prevails when interest payments received are reinvested at lower rates than the original coupon rate of the bond issue. Thus, reinvestment rate risk will be greater for longer-maturity bonds than shorter-maturity bonds. EXCHANGE OR FOREIGN CURRENCY RISK Bonds denominated in foreign currencies have uncertain dollar cash flows owing to fluctuations in foreign exchange rates. For example, if an investor purchases a euro-denominated bond, and the euro depreciates relative to the dollar, then the interest received in dollars will be lower.

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