Glossary of Municipal Securities Terms

MARKETABILITY

The ease or difficulty with which securities can be sold in the market. A municipal security’s marketability depends upon many factors, including its coupon, yield, dollar price, security provisions, maturity, credit quality and rating, if any. In the case of a new issue, marketability also depends upon the size of the issue, the timing of its issuance, and the volume of comparable issues being sold. Compare: LIQUIDITY.

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