Adjustment Bond:

Adjustment Bond: See Income Bond; Income Bond: A corporate debt issue that pays interest only when, and if, the company has income. Also called an adjustment bond. Note: Corporate meaning issued or created by a corporation. Debt meaning a loan. Interest payment are monies paid in exchange for this loan. Read more…

Additional Takedown.

Additional Takedown: A portion of the underwriting spread for a municipal issue defined as total takedown less concession. Municipal Issue aka as municipal bond or issuing municipal debt . Concession: A part of the underwriting spread that the selling group receives from the syndicate for helping to sell a new Read more…


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Additional Bonds Test:

Additional Bonds Test: A requirement that before additional bonds, which will be secured by assets or revenues already pledged to existing bonds, can be issued, that specific financial requirements must be met. Generally, the main requirement is that debt service coverage for the original and new bonds must be at Read more…


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Acid Test Ratio.

Acid Test Ratio. A more stringent test of corporation’s liquidity than the current ratio. It is calculated by adding cash. cash equivalents, and accounts and notes receivable and dividing that sum to the total current liabilities. It is also known as the Quick Asset Ratio. Note; these elements are found Read more…


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Accumulation Account.

Accumulation Account: An account used by the sponsor of a Unit Investment Trust to acquire securities for the eventual placement within the trust. Unit Investment Trust: A type of investment company in which a portfolio is purchased and held with little or no change to the investments. Commonly used with Read more…


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Accrued Interest.

Accrued Interest: The interest due on a bond since the last interest payment was made. The buyer of the bond pays the market price plus the accrued interest. Bond: An IOU or promissory note of a corporation, municipality, or the US government, usually issued in multiples of $1,000 or $5,000, Read more…


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The Federal Budget Breakdown:

The Budget Components and Impact on the US Economy: Under President Trump’s proposal, the federal budget would be a record $4.829 Trillion. The US government estimates it will receive $3.863 million in revenues. That creates a $966 Billion deficit for October 1, 2020 through September 30, 2021. (www,thebalance.com) Government spending Read more…


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