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Vanguard - Brokerage FAQs - Fixed Income Trade Desk

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Brokerage FAQs—Fixed Income Trade Desk

What is the Vanguard Brokerage Services® Fixed Income Trade Desk?

How do I get to the Fixed Income Trade Desk online and make purchases?

Where can I learn about current CD rates?

What is the credit quality of the bonds available through the Fixed Income Trade Desk?

Are there any types of bonds that Vanguard Brokerage Services doesn't offer?

Are bond issues and prices listed online by the Fixed Income Trade Desk the same as when placing an order through a bond trader?

How can I construct a bond ladder?

Where can I learn more about investing in bonds?

What is the Vanguard Brokerage Services Fixed Income Trade Desk?

The Vanguard Brokerage Services Fixed Income Trade Desk is where you can view information on prices, credit ratings, and other data for a wide inventory that includes the following fixed income securities:

  • U.S. Treasury bills, notes, and bonds.
  • Government agency bonds.
  • New-issue corporate notes.
  • Secondary corporate bonds.
  • Zero-coupon bonds.
  • Municipal bonds.
  • New-issue and secondary-market certificates of deposit (CDs).

Our bond calculator can help you determine prices and yields for any security listed.

To access the bond calculator:

  1. Click the Funds, Stocks & ETFs tab.
  2. Select Stocks, Bonds, & CDs.
  3. Click Buy bonds and CDs.

How do I get to the Fixed Income Trade Desk online and make purchases?

Brokerage clients can trade almost all fixed income securities online. The Fixed Income Trade Desk can help you:

  • Research bond offerings.
  • Place U.S. Treasury auction and secondary-market securities orders.
  • Buy new-issue and secondary-market CDs, corporate bonds, and U.S. agency bonds.
  • Buy secondary-market municipal bonds.

To place orders online:

  1. Access your accounts online using your user name and password.
  2. Click the Funds, Stocks & ETFs tab.
  3. Select Stocks, Bonds, & CDs.
  4. Click Buy bonds and CDs.

For all other types of fixed income orders, please call the Fixed Income Trade Desk at 800-669-0514 on business days from 8 a.m. to 6:30 p.m., Eastern time. Please note that bond trading hours are from 8 a.m. to 5 p.m., Eastern time. You can speak directly with a fixed income specialist to request immediate information on bonds and other fixed income investments from domestic markets.

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Where can I learn about current CD rates?

Click the Funds, Stocks & ETFs tab and then select Stocks, Bonds, & CDs. From there go to Buy bonds and CDs.

What is the credit quality of the bonds available through the Fixed Income Trade Desk?

The majority of securities have an investment-grade rating (Baa or above on the Moody's Investors Service scale; BBB or above on the Standard & Poor's scale), but you may also have access to corporate bonds that are not investment-grade.

Are there any types of bonds that Vanguard Brokerage Services doesn't offer?

The Fixed Income Trade Desk only offers securities denominated in U.S. dollars; securities denominated in foreign currencies are not available. Also, we do not offer U.S. savings bonds, Israeli bonds, or church bonds.

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Are bond issues and prices listed online by the Fixed Income Trade Desk the same as when placing an order through a bond trader?

Not necessarily. Although this information is believed to be reliable, its accuracy and completeness cannot be guaranteed. Our listings show the most up-to-date published data available to us. All offerings are displayed online purely for informational purposes and are subject to change in price and availability.

Please note that the prices displayed are only indications and do not include commissions. Current prices can be verified by contacting a fixed income specialist at 800-669-0514.

How can I construct a bond ladder?

Please call on of our fixed income specialists to help you build a bond ladder that meets your needs. For assistance, call 800-669-0514 on business days from 8 a.m. to 6:30 p.m., Eastern time.

Where can I learn more about investing in bonds?

Vanguard Brokerage Services can provide you with informative brochures, including:

  • An Investor's Guide to Bond Basics
  • An Investor's Guide to Municipal Bonds
  • An Investor's Guide to Mortgage Securities
  • An Investor's Guide to Corporate Bonds

To request a brochure, call 800-992-8327 Monday through Friday from 8 a.m. to 10 p.m. or Saturday from 9 a.m. to 4 p.m., Eastern time.

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