When companies and governments issue bonds, they do so with a specific maturity date attached to the bond. For example, a five-year corporate bond will pay interest for five years before it’s ...

Callable bonds are a type of bond that the issuer can “call” or redeem before the maturity date. The specifics vary from bond to bond, but callable bonds always have one thing in common — the issuer ...

The advance refunding of tax-exempt bonds with taxable bonds is the dominant activity in the municipal markets. This is the major driver of the increase in taxable volume. According to a recent report ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Although discounting has a critical role in funding and refunding decisions, it does not receive the attention it deserves. For example, to analyze a refunding proposal, we need to determine the cost ...