Chapter Objectives

Explain the fundamental characteristics of a bond issue.
Describe the differences among bonds offered by the U.S. government, state and local governments, and corporations.
Explain the difference between a private placement and public distribution of a bond.
Explain the meaning and impact of bond ratings.
Understand how to read bond quotes in the financial press.
Describe the characteristics of other forms of fixed-income securities such as preferred stock, money market funds, etc.

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