What is MMD in municipal bonds?

MMD municipal bonds are categorized by a company called Municipal Market Data that is owned by the financial news reporting agency Thompson Reuters. MMD municipal bonds are high quality, and MMD allows investors to make more informed decisions by using tools available through the MMD software interface.

What does MMD mean in finance?

A proprietary yield curve Municipal Market Data (MMD) AAA Curve provides the offer-side of AAA-rated state general obligation bonds (GO). The MMD analyst team determines the inclusion of bonds.

What is Thomson Municipal market Monitor?

TM3 is a new integrated Internet/Intranet data service that offers municipal market participants services currently marketed separately by Thomson Market Information Services. The following is a summary. Content: News and Money Markets: *Municipal news (including The Bond Buyer, Munifacts, and Municipal Market Data)

How do MMD rate locks work?

An MMD Rate Lock permits a Fund to lock in a specified municipal interest rate for a portion of its portfolio to preserve a return on a particular investment or a portion of its portfolio as a duration management technique or to protect against any increase in the price of securities to be purchased at a later date.

What is the EMMA website?

The Electronic Municipal Market Access (EMMA®) website is the municipal market’s free source of data and information on virtually all municipal bonds. The Municipal Securities Rulemaking Board (MSRB) operates the EMMA website to promote a transparent, fair and efficient market.

What are MMD rates?

MMD Index means the interest rate released by Municipal Market Data for its “Aaa” General Obligation Yield for uninsured bonds for a term equal to the remaining numbers of years from the effective date of the Alternate Term Rate to the Maturity Date, rounded up to the nearest full year in the event of a partial year. <

What are municipal derivatives?

A type of derivative contract in which the underlying is a municipal financial instrument, municipal index or portfolio, etc. Essentially, a municipal derivative is created by splitting up a fixed-rate bond into two parts (tranches): a floater and an inverse floater.

What are Emma filings?

EMMA provides real-time trade prices, official statements, credit ratings, ongoing disclosure documents and other information about more than one million outstanding municipal securities. Find a Security. EMMA’s search tools allow users to find a specific municipal security by its unique identifier or by name.

What is Emma ID?

Like all the other children at the orphanage, Emma wore the standard uniform— a white shirt and skirt along with plain brown shoes. Her identification number, “63194”, can be seen on the left side of her neck.

What are high yield municipal bonds?

High Yield Municipal Bonds 101. High yield munis are bonds are issued by state or local governments that are unrated by the major rating agencies or that have credit ratings that are below investment grade.

Why are municipal bonds down?

Changes in interest rates and interest rate expectations are generally the primary factors involved in municipal bond secondary market prices. When interest rates fall, newly issued bonds will pay a lower yield than existing issues, which makes the older bonds more attractive.

What is a municipal bond yield?

It is the municipal bond’s yield plus the tax benefit received. For example, due to its tax exempt status, a municipal bond note yielding 4% may actually have a taxable equivalent yield greater than 6%, depending on the investor’s income tax bracket.

Are municipal bonds a good investment?

Municipal Bonds Are a Good Investment. Investors need to monitor reports and news on specific locations or projects, especially if they buy individual bonds. Over the last 10 years, 96% of the municipal market experience credit rating changes. Revenue muni bonds backed by solid streams of income may be safer.