BONDS: Revenue

DEFINITION

By Staff Reporters

SPONSOR: http://www.MarcinkoAssociates.com

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Revenue bonds are one of the biggest sectors in the municipal debt market.

Unlike a general obligation (GO) bond, revenue bonds are not backed by a municipal issuer’s taxing authority. Instead, interest and principal are secured by the net revenues (tolls, fees, or other charges tied to usage) from the project or facility being financed.

Revenue bonds are issued to finance a variety of capital projects, including construction or refurbishment of utility and waste disposal systems, highways, bridges, tunnels, air and seaport facilities, schools and hospitals.

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Stock Market Open New Year’s Eve 12/31/2021

Bond Markets to Close Early Friday

By Staff reporters

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The stock market, buoyed by a Santa Claus rally and a banner year, will have one more day to extend its gains.

Both the New York Stock Exchange and NASDAQ will be open on New Year’s Eve. Bond markets will close early at 2 p.m. Friday.

The markets typically close on New Year’s Day but this year the holiday falls on a Saturday, when they would have shuttered anyway. Last week, the New York Stock Exchange and Nasdaq closed on Friday, Christmas Eve, in observance of Christmas, which also fell on a Saturday.

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