- online
- for underwriters only
- Bond Buyer Revenue index, 25 bonds
General obligation indexes
- GO 11 index, AA rating
- GO 20 index, A+ (A1)
- GO 40 index, BBB
Munifact wire
- info on new issues in primary & secondary markets
- info a)issuer b)indenture, c)information for analyzing ratings, d) no prices/yields
Kenny wire, C-wire
- services for secondary trading
GO 40 index is composed of which of the following:
- General obligation bonds of 20-years to maturity.
- all GO indexes are 20 year bonds
- Revenue Index has 25 bonds, 30 year bonds
- GO index has 11 bonds, 20 bonds and 40 bonds
Interdealer trading
- trading between bond traders
Broker's broker
- NEVER act as a market maker
- help dealers find a wanted bond
- help institutions buy and sell bonds
- help large buyers stay anonymous
- act as a broker
- NEVER as a principal
individual investors
- household investors
- higher tax brackets
- want yield exempt from taxes
institutional investors
- buy large amounts of bonds at one time
- commercial banks
- insurance companies
- bond mutual fund
- buy large quantities
- can buy whole issue
A broker's broker is used to doing which of the following?
- find bonds for another broker/dealer and act as an agent in buying them.
- go between, help other broker's find and buy bonds
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