Tom, the real question is not the amount of the commission, but what is the net price that you will pay for the bonds. Bonds are sold on a net basis; ie with the commission included. Many investors naively believe that only commissions matter, when they will end up paying several points higher for the same bond, especially from an alledgedly "discount" broker. If you want AAA CA 5 year munis and I can deliver them 2 points net lower than your broker why should you care what my commission is? This also holds true for the wirehouses.
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