Tax-exempt security

Definition:

An obligation whose interest is tax-exempt, often called a municipal bond, offered by a country, state, town, or any political district.

Investing Essentials


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

Term of the Day

Forward forward contract

In Eurocurrencies, a contract under which a deposit of fixed maturity is agreed to at a fixed price for future delivery.

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