BondView Releases Free Historical Municipal Bond Pricing Data Just in Time for Tax Season
NEW YORK, April 9, 2013 /PRNewswire/ — BondView has released free historical estimated pricing (http://www.bondview.com/pricecheck/historical_estimated_price/745235D65) for all 1.5 million municipal bonds. Just in time for the tax season, investors, accountants and financial advisors can now within seconds obtain historical prices for municipal bonds.
BondView’s new historical estimated pricing is based upon its industry standard real-time estimated pricing feature (http://www.bondview.com/pricecheck/bond/745235D65) which has quickly become the worlds leading free source for accurate daily municipal bond prices. BondView is now used daily by thousands of bond professionals. Leading representative users include Citibank, Fidelity and Ernst & Young, Harvard University, MetLife and the US Department of Treasury.
Why Are Free Historical Bond Prices Hard To Find?
While the average investor can easily search historical prices for stocks on many websites, they quickly become frustrated when searching for historical pricing data for municipal bonds.
Robert Kane, CEO of BondView, said “Many users had been asking for historical bond prices. Accountants, estate planners and trust departments all wanted to know a bond’s accurate estimated value as of a past date for tax purposes.”
The difficulty in finding historical pricing information is because most bonds trade infrequently. Typically less than 1.5% of all municipal bonds trade on a given day making it nearly impossible for an investor to find a timely historical trade as a reference point to then determine an accurate price.
Steve McLaughlin, Portfolio Manager, at Granite Springs Asset Management (http://www.granite-springs.com/about-smclaughlin.html) said “BondView addresses a major obstacle in our market which is fair pricing and liquidity measurement. There are over 50,000 issuers of municipal bonds, 1.5 million outstanding cusips and on most days no more than 1.5 percent of the outstanding bonds trade.”
For those bonds that don’t trade frequently, BondView’s algorithmic model provides estimated prices by reviewing the trading of similar bonds by coupon, maturity, sector, rating, state, tax treatment, etc. BondView’s pricing algorithms are calculated based on Financial Accounting Standards Board guidelines (Topic 820 formerly known as FAS 157) and were back tested across an extensive repository of municipal bond data. The result is dependable pricing.
“Up until a few years ago, you just had the traditional well established companies that supplied pricing matrixes to the industry. A new independent unbiased firm that provides a new set of eyes using different methodology is a welcomed addition,” said McLaughlin.
“BondView is a leading advocate for market transparency and our mission is to promote smart, informed decision making by municipal bond investors and their advisors.” said Kane.
Recently BondView also announced real-time trading information on Defaulted Municipal Bonds including Fire Sale (http://www.bondview.com/bonds/firesale) bonds so that investors can easily discover bonds that may be undervalued by the market. In addition, BondView announced Stress Testing, Bond Fund Ratings, Portfolio Report Cards and Portfolio Analysis tools all of which help investors make better decisions.
Robert Kane, CEO
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SOURCE BondView, LLC