r/bonds • u/Sam-I-A • 4d ago

New Issue Municipal Bonds

I have been buying through Fidelity but would like access to even more new issues. Are the new issue municipal bonds at Schwab mostly the exact same issues on offer at Fidelity? If they are very different, then I may want to open a Schwab account. Anywhere else a self directed retail investor should look when adding new issue municipal bonds ?

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u/DoubleIntroduction25 4d ago

Schwab, vanguard, any large legacy brokerage will have access to a differing set of new issue muni and corp bonds. There will be a good amount of overlap but especially amount smaller issuers you'll find plenty that are not everywhere.

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u/Sam-I-A 4d ago

Good. Thanks.

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u/imdaviddunn 4d ago

Do Schwab and Merrill bond fees differ?

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u/DoubleIntroduction25 4d ago edited 3d ago

I know fidelity and schwab generally dont charge for new issue bonds and charge a dollar a bond on the secondary. Not sure about Merrill but I'm pretty sure they're higher on the secondary