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Instructor:

Contributor: Interactive Brokers

Level: Beginner

In this course, IBKR senior market analyst Steven Levine provides essential details about the U.S. municipal bond market, including the types of securities investors typically encounter such as general obligation bonds and revenue bonds. We’ll also offer you some tools to enable you to obtain a better understanding of the risks involved with municipal securities and how they may be mitigated, along with certain tax considerations.

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Lesson: #1 Course Overview

Interactive Brokers' senior market analyst Steven Levine provides an overview of what to expect from the U.S. Municipal Bond Market course available at IBKR Traders' Academy.

Lesson: #2 General Obligation Bonds

Interactive Brokers' senior market analyst Steven Levine provides some insights into general obligation bonds (GOs), including what differentiates these securities from other municipal debt offerings such as revenue bonds, as well as methods of analyses. This lesson is part of a video series on the U.S. Municipal Bond Market - available at IBKR Traders' Academy.

Lesson: #3 Revenue Bonds

Interactive Brokers' senior market analyst Steven Levine offers some insights about revenue bonds as part of a broader course on the U.S. Municipal Bond Market, available at IBKR Traders' Academy.

Lesson: #4 Short-Term Notes

In this lesson, Interactive Brokers' senior market analyst Steven Levine gives an overview into shorter-term municipal securities, including TANs, RANs, TRANs and BANs, as well as more complex instruments such as auction rate securities (ARS) – all part of a video series about the U.S. Municipal Bond Market, available at IBKR Traders' Academy.

Lesson: #5 Credit Ratings and Insurance

Interactive Brokers' senior market analyst Steven Levine provides an overview of credit rating agencies (NRSROs) and bond guarantors and conducts an interview with Ed Grebeck, global debt strategist and CEO of Tempus Advisors, for further insights. Grebeck, who gave one of the earliest warning signs about the 2008-09 global financial crisis, also warns about political/governance risk in today's municipal securities market.

Lesson: #6 Secondary Market

Interactive Brokers' senior market analyst Steven Levine details how investors can calculate accrued interest, as well as offers insights into other secondary market-related activities - all part of a broader video series on the U.S. Municipal Bond Market, available at IBKR Traders' Academy.

Lesson: #7 Due Diligence (Part 1 of 3)

Interactive Brokers' senior market analyst Steven Levine introduces IBKR’s Global Bond Scanner, which investors may use to search and select specific municipal securities, as well as chart their yield performance over time. This due diligence lesson is the first of three parts in the U.S. Municipal Bond Market video series, available at IBKR Traders' Academy.

Lesson: #8 Due Diligence (Part 2 of 3)

Interactive Brokers' senior market analyst Steven Levine explores how to compare the yields of a taxable corporate bond with a tax-exempt municipal security on both an in-state and out-of-state basis. This due diligence lesson is the second of three parts in the U.S. Municipal Bond Market video series, available at IBKR Traders' Academy.

Lesson: #9 Due Diligence (Part 3 of 3)

Interactive Brokers' senior market analyst Steven Levine highlights the wealth of available information offered by IBKR’s Global Bond Scanner with which investors may use to conduct fundamental analysis on municipal securities. This due diligence lesson comprises the third of three parts in the U.S. Municipal Bond Market video series, available at IBKR Traders' Academy.

Lesson: #10 Tax Considerations

Interactive Brokers' senior market analyst Steven Levine provides a broad overview of tax considerations when deciding on a municipal bond investment, part of the U.S. Municipal Bond Market video series, available at IBKR Traders' Academy.

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