When companies and governments issue bonds, they do so with a specific maturity date attached to the bond. For example, a five-year corporate bond will pay interest for five years before it’s ...

Discover the call premium, the added value to the par amount for early redemption of callable securities, and explore the different types and their impacts.

Callable bonds are a type of bond that the issuer can “call” or redeem before the maturity date. The specifics vary from bond to bond, but callable bonds always have one thing in common — the issuer ...

The advance refunding of tax-exempt bonds with taxable bonds is the dominant activity in the municipal markets. This is the major driver of the increase in taxable volume. According to a recent report ...

James Chen, CMT is an expert trader, investment adviser, and global market strategist. Gordon Scott has been an active investor and technical analyst or 20+ years. He is a Chartered Market Technician ...

For example, to analyze a refunding proposal, we need to determine the cost of the outstanding and the refunding bonds on a present-value basis. Earlier this year, I showed that tax-exempt and taxable ...

MTN market participants highlighted the spike in dollar callables as a key area of growth in 2025. Public sector issuers ...