aa municipal derivative which constitutes a municipal note embedded with a derivative such as a swap, cap, option, etc. By nature the municipal note is a short-term financing instrument which provides fixed income and is often exempted from state and/or federal income taxes. The embedded derivative allows the holder to avail or exercise on the underlying rate movements.
Derivatives
Derivatives have increasingly become very important tools in finance over the last three decades. Many different types of derivatives are now traded actively on ...
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