Municipal Securities – Advanced

This course offers participants additional experience with the municipal bond industry including exposure to trading strategies, municipal bond credit evaluations, municipal bond default rates and risks, 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 past course dealing with basic bond terminology is required.

Course Objectives

By the end of the course, the participants will be able to:

• Describe various municipal bond investment strategies
• Explain the characteristics of municipal bond investors and their investment profile
• Describe 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)

Suggested Prerequisites: Municipal Securities or equivalent knowledge

Program Level: Intermediate

Advance Preparation: None

Computers and Financial Calculators: Calculators

Recommended CPE Credits: 7