s******d
发帖数: 323 | 1 就说muni bond吧，那种用general obligation的，用tax revenue还的。
如果州政府破产，fed不管，那么同样credit rating的bond, 是short duration的
受影响大还是longer term duration的大，还是一样？ | p******a
发帖数: 41 | 2 I am no bond expert, but from common sense, longer the duration, more risk.
however, I think muni is very unlikely to pop, because if fed is not there,
state can increase tax rate anyhow, just like CA did last year, and now
everyone is getting used to it already. | s********h
发帖数: 158 | 3 sounds like a typical cfa exam question.
GO or tax revenue are the two categories and you should not generalize, in
that two GO muni bonds may carry totally different risk profiles.
that being said, the historical record for munis has been quite good.
in general, bonds with longer duration and lower coupon are more sensitive
to interest rate changes. specifically, you should also factor in your
income tax bracket to calculate the pre-tax return equivalent rate. |
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