What Is Munifacts?
Munifacts used to be as soon as a non-public newswire verbal trade service for municipal bonds which provided information on new municipal bond issues in the principle market and secondary market. In 1996, it used to be as soon as renamed Thomson Municipal Data, then later folded into The Municipal Market Monitor (TM3), a subscription service available from Refinitiv.
Figuring out Munifacts
Even if Munifacts not exists, it’s choice service is of interest to municipal bond buyers. It is a reporting service buyers use to investigate bond issues, along side the words integrated throughout the bond’s indenture and financial information used to guage the usual of a topic. A 14-day unfastened trial is available for TM3, and subscriptions are available for municipal market folks, who must first be verified via TM3 Client Products and services and merchandise workforce in a telephone interview.
Elements of TM3
The news is provided via Refintiv up to now Thomson Municipal Data (or, Munifacts) and The Bond Buyer top stories. Apparatus include an analyst list and a word list. Useful apparatus for buyers very similar to deal and Committee on Uniform Securities Identification Procedures search functions and a bond calculator.
The dashboard displays the Easiest 5 Competitive Issues, Easiest 5 Negotiated issues, and 5 Most Energetic Trades at Amount. Other services and products and merchandise available from the dashboard are links to MuniStatements, the Securities Industry and Financial Markets Association, Trade Index, and Trade Traded Finances Index.
The principle choices of The Municipal Market Monitor are:
Tables on the dashboard include MIG1 and MMD Scales. MIG is a Moody’s score scale to measure municipal bond chance and issuer creditworthiness. The Moody’s scores are one through 4, with a one (MIG 1) representing the perfect high quality and a 4 (MIG 4) representing the ground top quality.
A proprietary yield curve Municipal Market Wisdom (MMD) AAA Curve provides the offer-side of AAA-rated state not unusual criminal accountability bonds (GO). The MMD analyst personnel determines the inclusion of bonds. The MMD AAA curve represents the MMD analyst personnel’s opinion of AAA valuation, in step with an institutional block size of $2 million-plus market process in every the principle and secondary municipal bond market.
The AAA scale is outlined via Municipal Market Wisdom every day at 3:00 p.m. Eastern Same old Time with earlier indications of market movement provided throughout the purchasing and promoting day.
Throughout the interest of transparency, MMD publishes extensive yield curve assumptions on the subject of quite a lot of structural requirements, which could be used in filtering market information for the purpose of benchmark yield curve introduction.
