Bonds whose par values are less than $1,000 are often described as baby bonds, or, in the case of municipal bonds, as mini-munis.
Small companies that may not be able to attract institutional investors, such as banks and mutual fund companies, may offer baby bonds to raise cash from individual investors.
Some municipalities also use baby bonds to foster involvement in government activities by making it possible for more people to invest.
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,471.50 | 1,106.41 | 2,190.31 | 35.40 |
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