Final answer:
A municipal bond confirmation discloses critical information such as par value, coupon rate, price, settlement date, yields to maturity or call, and tax status.
Step-by-step explanation:
When a trader or investor purchases a municipal bond, the transaction confirmation must disclose several critical pieces of information. These include, but are not limited to, the par value or bond quantity purchased, the bond's interest rate or coupon rate, the price paid, settlement date, and any accrued interest. Additionally, the purchase confirmation will indicate the yields to maturity if held to the end of its term, or the yield to the call date if there is a possibility the bond may be called away before maturity. The confirmation statement also indicates if the bond is taxable or tax-exempt, which is an important feature of municipal bonds influencing their return.