The Relative Risks of General Obligation Bonds uye Revenue Bonds
Chii Chinowanzotarisirwa Bonds?
Zvose zvinosungirwa zvisungo, zvakare zvinonzi GOS, zvibvumirano zvinotsigirwa ne "kutenda kwakakwana uye chikwereti" chemunhu anopa chikwereti, pasina chinangwa chaicho chakaonekwa sechinhu chemari.
Mune mamwe mazwi, mutapi wemasitori anogona kuita chikwereti uye zvikwereti zvakakosha achishandisa chero mari yekuwana mari inowanikwa kwavari, yakadai semitero yemitero, mari, kana kubviswa kwevhudziro idzva. Izvi zvinoreva kuti kana komasisheni akawana dambudziko rezvemari, rinogona kukwidza mitero kuti ribvise kukanganisa. NZIRA zvinoonekwa sezviri sechokuchengeteka , uye zvisizvo hazvisi nyore.
Hazvikwanisi kuti hurumende yose yehurumende inotarisana nekutambudzika kwakanyanya kwemari kudarika kuti purojekiti chaiyo yemagodhi isakundikana kuunza mari inotarisirwa. Vashandi vanogona kutenga mabhizimisi ezvisungo zvakananga, asi kune mari yakawanda pamwe chete uye mari inoshandiswa-kutengeserana mari (ETFs) iyo inonyanya kugadziriswa muzvigaro zvekuchengetedza, pakati pavo ndeyeVanguard yemutero-kuregererwa Bond ETF (chiratidzo VTEB), passively-managed managed municipal bond index kuchengeteka. Kuisa mari mune imwe musarudzo yehurumende kana ETF inopa dhigirii yakawanda isingawaniki kune vose asi varairi vepfuma.
Ndezvipi Zvokubhadhara Mari?
Revenue bonds zvibvumirano zvinotsigirwa nemari inokonzerwa nehuwandu hweprojekiti inobhadharwa nehutano hwehutano. Mune mamwe mazwi, mari inokwidzwa nechisungo chekubatanidza mari inoshandisa purojekiti, uye purojekiti - kana yapera - inoita mari yekubhadhara chikwereti uye mukuru pazvisungo.
Zvirongwa zvinogona kusanganisira zvipatara, mahofisi eendegeti, migwagwa inofambisa, mapurani emagariro, nzvimbo dzekokorodzano, mabhiriji, uye miitiro yakafanana. Kubhadhara mari yakawanda inowanzova njodzi yakanyanya kudarika hurumende inosungirwa zvisungo, uye somugumisiro, inowanzopa zvibereko zvakakwirira.
Mukati rehutano hwemari, kunewo " zvinokosha mavhisi " mari yekusungirwa mari, iyo inosanganisira mapurogiramu ane chokuita nemvura, kushambisa, uye masimba emagetsi. Sezvo mari yakawanikwa kubva kumigodhi yakadaro ichionekwa seyo yakavimbika, zvinokosha zvehutano mari yehutano inoonekwa sehuwandu huri pasi pezvisungo zvakabhadharwa nemari kubva kune zvisingabatsiri mabasa. Izvozvo zvinonzwisisika njodzi inoratidzirwa mune zvishoma zvishoma zvekudzoka kwezvinhu zvinokosha zvisungo zvingafananidzwa nemitengo yezvimwe zvikwereti zvemari.
Kazhinji, vatengi vemakambani emabhangi anosungirirwa vachaisa mari mubatanidzwa wezvisungo zvose uye mari yezvisungo. Zvinyorwa zvinogoverwa nekambani yemari ichapa pfungwa yekuti imwe mari yakabhadharwa sei.
Mamwe Mararamiro eMabhadharo eMasipala
Revenue uye general bond bonds haisi yega yega yevheti dzomuguta. Vashandi vanogonawo kusarudza kubva:
- Zvirongwa zvekufungidzira , izvo zvigari zvenguva pfupi zvinoshandiswa nemasisheni vanogona kupa muchimiro chekuwedzera, kwenguva yakareba-nguva yekusungirwa kwebasa kune rimwecheteyo, inowanzobudiswa mushure mekugadzirwa kweprojekiti.
- Pre-refunded bonds . Izwi rokuti "kufanirwa kubhadharwa" rinoreva zvibvumirano zvisingabhadharwi zvakave zvakabhadharwa kuburikidza nekubudiswa kwechimwe chikwereti chechibvumirano chisati chaitika musati wambosvika musi wekutumira. Kusvikira zuva rekutanga rekushandira kwebhandi, mari kubva musangano hutsva inobatwa muchechi uye inotengeswa muUnited States. Sezvo zvakadaro, zvisungo zvekare zvinotaridzirwa zvinomirira dambudziko rakanyanya kune vashandi vanofanana nehutano hweHaidy Notes panguva vachiri kupa mutero usingabhadhara mutero weusungwa.
- Bhandi dzishuwarenzi , kazhinji dzakabudiswa nemataundi mashoma, ayo akavimbiswa nevechitatu. Iyo nzira inowanzobatwa neyechitatu mutori wechengeti anotenga bhizimisi rose rekusununguka, insuring kana zvimwe zvivimbiso, ndokubva abudisa zvisungo zvehutano kuvarimi. Nokuda kwechibvumirano, vanopa zvikwereti zvakaderera zvishoma pane zvimwe, zvakadai sevasungwa vasina kusungwa.
Kuti udzidze zvakawanda pamusoro pemhando idzi dzemasistikiti, shandisai Mitemo yeMabhadharo eMasipala .
Nezvemari haigone kupa mutero, utsvaga, kana mari yemari uye mazano. Mashoko aya ari kuendeswa asina kufunga nezvezvinangwa zvekutsvaga, kubvumira kusangana nematambudziko kana mamiriro emari yemumwe muzvinabhizimisi chaiyo uye angave asina kukodzera kune varairi vese. Basa rekare harisi kuratidza migumisiro yemangwana. Kuisa mari kunosanganisira njodzi dzinosanganisira kurasikirwa kwatinoitwa mukuru.