A bond, also sometimes known as "fixed-income", is an investment in which you lend money to an issuer (often a company, US Government, Municipalities, or a government agency). The issuer of the bond agrees to pay back the loan by a specified maturity date and make regular interest payments along the way. In some cases, when you invest in municipal bonds, the interest is exempt from federal income taxes, and usually from taxes in the state of issue.

The bond markets offer numerous choices, so it is important to work with a financial advisor to determine which bond strategies are best suited for your needs and also determine what percentage of your portfolio should be invested in fixed-income products, based on your risk tolerance and objectives.

** Yields and market value will fluctuate. If sold prior to maturity, your investment may be worth less than its original cost. Among other information, maturity, ratings, and ability to repay should always be considered. Although municipal income is generally free from some taxes, capital gains, if any, may be subject to taxes. In addition, income for some investors may be subject to the federal Alternative Minimum Tax (AMT). CPMI is not a tax or legal advisor. Please consult with your own legal or tax advisor before making any decisions that may have applicable tax consequences.