ADVANCED MUNI BOND CLASSMunicipal Bond Master Class
Students who complete this Master Class will receive 14 CPE credits.
Breakfast, lunch, and snacks are included in your tuition.
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Muni Bond Class Outline
This hands-on course offers students advanced training in the municipal bond industry including exposure to trading strategies, explaining risks for investors in various trading strategies, municipal bond credit evaluations, municipal bond default rates, and municipal bond derivatives such as tender option bonds. The focus of the course is on understanding the municipal markets and how investors use municipal bonds in strategies today. Regulatory considerations such as rules promulgated by the MSRB are also discussed. A computer with Excel or calculator is recommended but not required.
By the end of the course, the participants will be able to:
- Describe various municipal bond investment strategies
- Understand the characteristics of municipal bond investors and their investment profile
- Explain the role that municipal bonds play in a portfolio setting
- Discuss advanced municipal bond investment strategies such as Tender Option Bond programs
- Explain the characteristics of municipal bond markets and regulations such as the oversight by the Municipal Securities Ruling Board (MSRB)
- Identify what municipal derivative securities are
- Differentiate investment strategies in the two basic security structures: tax-backed debt and revenue bonds
- Evaluate how municipal inverse floaters are created and used
- Judge the tax risk that investors face when investing in municipal securities
- Analyze yield spreads within the municipal market
- Analyze the shape of the municipal yield curve
- Describe trading in the primary and secondary markets for municipal securities