Municipal bonds
I have been buying municipal bonds from Fidelity for years. I entered and ordered the other day. They re-priced the bonds sent me an email that I had one hour to respond to at 4 o’clock in the afternoon. In the past they have reversed these trades and got me out of the position, today Fidelity refuses to reverse the trade because I called the next business day because I didn’t see the email. What can I do? What other industry in the world or service can change the price after the purchase and give you in one hour to respond to an email to get out of the sale? What can I do? Thank you And thanks for all the advice you’ve given over the years.
Terry Says
The prices in the bond market –including munis — move quickly and don’t stop at the traditional close of business. So they give you an hour to accept or decline. When you have a trade in, you have to stay on top of it. The muni bond market is no longer the sleepy place it once was. They gave you that info when you placed the trade; you must abide by their rules.
