What Is a Bona Fide Foreign Resident? Any resident of a foreign country who meets the Internal Revenue Service (IRS) criteria for the bona fide residence test. This test classifies any person who lives in any foreign country for an uninterrupted period that includes an entire tax year—defined as the period from January 1 through
What Is Bona Vacantia? Bona vacantia, also known as “vacant goods” or “ownerless goods” in Latin, is a legal term for the situation in which property is left without any clear owner. The bona vacantia property may have been abandoned, mislaid, or forgotten by the owner. Bona vacantia can also refer to property left by
What Is a Bond? A bond is a fixed-income instrument that represents a loan made by an investor to a borrower (typically corporate or governmental). A bond could be thought of as an I.O.U. between the lender and borrower that includes the details of the loan and its payments. Bonds are used by companies, municipalities
What Is a Bond Attorney? A bond attorney is a lawyer who represents municipal bondholders’ interests during a bond offering and who prepares a legal opinion attesting that the issue is legal, valid, and binding. They also play other roles to ensure value for the bondholders during bond and note offerings. Key Takeaways A bond
What is Bond Bank? A bond bank is an independent state-created entity that consolidates local bond issues into a single pool to offer better financing options for state or municipal projects. Key Takeaways A bond bank is an independent entity, created by the state, that consolidates local bond issues into a single pool to offer
What Is a Bond Broker? A bond broker is a broker who executes over-the-counter (OTC) and listed bond trades on behalf of investors or traders. Bond brokers act as intermediaries between buyers and sellers of debt securities, keeping the identities of both parties at the end of the transaction anonymous, and earning a commission for
What Is The Bond Buyer? The Bond Buyer is a trade publication for members of the municipal bond industry that began as a daily newspaper over 100 years ago and now provides sophisticated real-time market data via a subscription-based digital version. Key Takeaways The Bond Buyer is a trade publication for members of the municipal
What is Bond Buyer 20? Bond Buyer 20 is an index whose value is based on a survey of what municipal bond traders estimate will be the yield of a portfolio of 20 general obligation bonds maturing in 20 years, rather than actual prices or yields. Key Takeaways Bond Buyer 20 is an index whose
What Is Bond Buyer Index? The Bond Buyer Index, also known as the Bond Buyer’s Municipal Bond Index or BB40, is a muni bond index published by The Bond Buyer, a daily finance newspaper that covers the municipal bond market and tracks 40 highly-rated, long-term municipal bonds. The index is the benchmark for municipal bond
What Is a Bond Discount? Bond discount is the amount by which the market price of a bond is lower than its principal amount due at maturity. This amount, called its par value, is often $1,000. The primary features of a bond are its coupon rate, face value, and market price. An issuer makes coupon
