By Esme Faerber

The common source of revenue investor does not wish or have to get slowed down in technical discussions of rates of interest and time. So All approximately Bonds and Bond Mutual cash provides them what they want­­a easy but finished remedy of bonds and bond money. in addition to up-to-date bond info, this revised version additionally contains new fabric on: * Bond mutual cash * Tax-free municipal bonds * overseas bonds and bond cash

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Additional resources for All About Bonds and Bond Mutual Funds: The Easy Way to Get Started

Sample text

Commercial paper is issued by the most creditworthy companies as a source of short-term credit and is, in essence, an unsecured promissory note. Maturities are 270 days or less. Negotiable certificates of deposit are deposits of $100,000 or more deposited in commercial banks at a specific rate of interest. These can be bought and sold in the open market. CHAPTER 2 24 Repurchase agreements are contracts that involve the sale of money market securities with the simultaneous agreement to buy the securities back at an agreed-on price in the future.

Medium-grade quality. Interest and principal are neither highly protected nor poorly secured. Lower ratings in this category have some speculative characteristics. Speculative bonds with great uncertainty. In default. Individual investors should stick to issues with ratings of BBB and above to ensure against sleepless nights. However, these ratings provide only a relative guide for investors, because the financial status of the issuer could deteriorate over time and result in the issue being downgraded to a lower rating.

That the investor reinvests the interest payments received at the same yield-to-maturity rate If the bond is not held to maturity, then the internal rate of return of the bond can be calculated by substituting the sale price of the bond for the maturity value. Similarly, when the bond has a call feature, investors can calculate the yield to call by substituting the call price for the maturity price in the equation. The yield-to-maturity rate assumes that the investor will reinvest the interest received at the same yield to maturity.

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