Series 52: Chapter Four

Taken from our Series 52 Top Off Online Guide

Chapter Four

Trading Municipal Bonds in the Secondary Market

When municipal bonds are first sold to the public, they are sold in the primary market. Proceeds from sales in the primary market go to the municipality. Once municipal bonds have been issued, they are traded among investors in a highly fragmented over-the-counter market. This market is called the secondary market, and the proceeds from sales in the se

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