Municipal improvement certificate


A certificate used to finance local government projects and services which is financed by a special tax assessment and provides tax-free interest .

Investing Essentials

Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Nonparallel shift in the yield curve

A shift in the yield curve in which yields do not change by the same number of basis points for every maturity. Related: Parallel shift in the yield curve.

Subscribe to the Term of the Day via email Get the Term of the Day in your inbox!

Create your free portfolio