Bonds are more important than most people realize, says dailydirtnap.
The first thing I read about investing wasn’t actually a book. It was a pamphlet that I got somewhere, 23 years ago.
After the semester, one of the students came up to me and said he expected to learn all about how to trade stocks in the class. He thought the whole class would be about the stock market, when in fact, about 85% of the class ended up being about the bond market. The interest rates on Treasury bonds are pretty much the benchmark for every other interest rate in the world, including your mortgage. They also give you a pretty good indication as to which way the economy is going — if you know how to make sense of the numbers.
Corporate bonds are rated by rating agencies, and the higher-rated ones are called investment grade, and the lower-rated ones are called high yield. Kind of the worst of both worlds. Why buy these bonds? They yield a bit more because of the prepayment option, which has to do with the refinanceability of your mortgage.
Municipal bonds are bonds issued by state and local governments. Municipal bonds have had a historic rally recently.
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