Home >  Education >     Bonds       Financing the Future Bonds attract investors because they usually pay regular interest income and pledge to repay the amount of the bond. Figuring a Bond's Worth The value of a bond is determined by the interest it pays and by what's happening in the economy. Rating Bonds Investors want to know the risks in buying a bond before they take the plunge. Rating services measure those risks. The Value of Bonds Some of the factors to consider in evaluating bonds as potential investments are the purchase price, the interest rate and the yield. Municipal Bonds The not-so-secret charm of municipal bonds is their tax-exempt status. You don't have to share your earnings with the IRS — or state taxing authorities. US Treasury Bonds, Notes & Bills The U.S. government is a big force in the bond market. A Bond Vocabulary The words that describe bonds have very specific meanings.         For more information     Discover how bond opportunities may provide you with the right balance between risk and reward. Read more   Visit our Bond Center   Begin your journey to financial success. Get started           Branch Locator | Site Map | Privacy | Terms of Use | Disclosures | Morgan Stanley & Co. Incorporated Financial Statement     The Global Wealth Management Group of Morgan Stanley & Co. Incorporated and the Smith Barney division of Citigroup Global Markets Inc. have combined into Morgan Stanley Smith Barney LLC, a new investment adviser and broker-dealer registered with the Securities and Exchange Commission.   In general, references to Morgan Stanley in this section of the site should be read as Morgan Stanley Smith Barney; however, some services will continue to be provided by Morgan Stanley & Co. Incorporated. Click here to read the Statement of Responsibilities, which explains the respective roles and functions of Morgan Stanley and Morgan Stanley Smith Barney.   The information and services provided on the website are intended for persons in the U.S. only. Non-U.S. persons are directed to our Global Offices page.   © 2009 Morgan Stanley Smith Barney LLC, member SIPC. All rights reserved.