Fixed Income Investing
Government and Agency Securities
We offer all forms of government securities, including Treasury Bonds, Notes, and Bills; GNMA and FNMA mortgage-backed securities; and zero coupon bonds.
Corporate Bonds and CDs
For those seeking competitive taxable current yields, we offer listed and unlisted corporate bonds and convertible bonds, and broker federally insured certificates of deposit from other financial institutions.
Tax-Exempt Securities
Through Pershing LLC's (a subsidiary of the Bank of New York Mellon Corporation) bond trading desk and CHA, we offer a variety of attractive, tax free, municipal bonds from local and national issuers.
Municipal Bonds and UIT's
Congress encourages investors to lend money to cities, towns and states so these municipalities can pay for public projects such as schools, roads, power generation and distribution systems, and hospitals. This encouragement from Congress exempts municipal bonds interest paid to investors from federal income taxes. Municipal bond interest is also exempt from state taxes if the investor owning the bond lives in the state where the bond was issued. May be subject to Alternative Minimum Tax (AMT). Because of this tax advantage, municipal bonds typically pay a much lower rate of interest than a taxable corporate bond of similar quality. Thus, municipal bonds appeal most to investors in the highest tax brackets, where the tax exemption provides the biggest tax savings.
Collateralized Mortgage Obligations (CMO's)
CMO's are one of the most innovative investment vehicles available today, offering regular payments, relative safety, and notable yield advantages over other fixed-income securities of comparable credit quality.
Zero Coupon Bonds
These bonds are backed by the full faith and credit of the US government. These securities, know as STRIPS, are issued directly by the Treasury. Zero coupon, Treasury-back bonds, such as CATS and TIGRs are not issued by the Treasury, but they are 100% collateralized by US Treasury bonds. These bonds are offered at a deep discount and mature at face value. They compound semi-annually at the corresponding yield the investor locks in at the time of purchase.
