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From the Inside Flap
The world of municipal bonds is a vast market with enormous diversity. And while it's filled with some excellent opportunities, some people fail to take advantage of all it has to offer due to unfamiliarity with this arena or other factors.
Nobody understands "MuniLand" better than author Joe Mysakan articulate and well-informed journalist, who's been covering this market for thirty years. And now, in the Encyclopedia of Municipal Bonds, he shares his extensive insights with you.
Engaging and objective, this groundbreaking volume examines the historymuch of which has never been put between hard covers before in any kind of comprehensive wayand mechanics of the municipal market in clear and understandablelanguage. It also addresses numerous aspects of the market, including pricing, trading, taxationissues, and yields, as well as topical events such as the recent financial crisis, hysteria about defaults, and Chapter 9 municipal bankruptcy, fraud, and regulation. Along the way, Mysak skillfully defines terms and tells stories that may likely be unfamiliar to most people not in this market.
Encyclopedia of Municipal Bonds contains essential insights and provides much-needed context for this field. Topics touched upon throughout these pages include:
The 2008 Jefferson County, Alabama default, the 1994 Orange County, California bankruptcy, and the 1975 New York City crisis
How anyone who wants to find details ofprices and tradesas well as complete copiesof official statementscan now do so online, and in most cases for free
Why one of the most questionable of allmunicipal market behaviors, yield-burning, has been so hard to eliminateThe reasons municipal bonds don't react to bad news or tend to trade off
And much more
Encyclopedia of Municipal Bonds is an accessible guide for everyone from investors and financial professionals to regulators and insurers. Anyone involved in, or aspiring to enter, the municipal bond market needs to read this book.