| REPORTS |
|
|
 |
|
Municipal ADVISOR (monthly)
- A monthly comprehensive report on the dynamics of the municipal market.
- Looking ahead for the coming month / summary of past month.
- Secondary trading activity with reference to market’s conditions of liquidity.
- Review of areas of monthly, quarterly and YTD municipal performance.
- Primary market activity - coverage of the key new issues sold during the month.
- Credit commentary of leading issues confronting the municipal market.
- Fundamental and economic context as it impacts municipals as well as legislative coverage.
|
|
 |
|
MMA AAA Median Municipal Benchmark (Daily)
- Aaa G.O. Credit: Levels are based on a “Natural ‘Aaa’ G.O. credit” (i.e. not pre-refunded or in-sured) with Maryland G.O. used as a guide. Yields are derived from polling market leaders.
- A Mid-Market Yield: A transparent and objective assessment of market levels for benchmark use and identification of value of specific bonds evaluated in a portfolio. (A “mid market” yield repre-sents the mid-point between the “bid” and “offered” side of the market.)
- Current Coupon Rate: A near-par coupon assumption allows for historical comparison over time. Assumes a 10-year par call.
|
|
 |
|
Municipal INSIGHT (3 x Daily)
- Monitors the daily municipal new issue pricing/sales and secondary markets trading activity.
- Provides forward-looking observations on the day’s activity, and participant tactics through di-rect quotes by industry professionals.
- Explains the latest economic data and arbitrage derivative market activity as it relates to munici-pals, as well updates on breaking events in DC directly impacting tax-exempt investments.
|
|
 |
|
Municipal OUTLOOK (Weekly)
- Suggestions for the week ahead and review of past week.
- Recommendations for portfolio tactics—risks and opportunities for current conditions.
- Focus on major headline issues and their impact and relevance to municipal investors’ holdings.
- Comprehensive quantitative assessment of liquidity risks and opportunities on the yield curve.
- Update & commentary on MMA’s Credit Impairment Database - review of credit default trends.
|
|
 |
|
Municipal STRATEGIST (Daily)
- Provides a day-end summary of key statistics to identify value and opportunity.
- Places current conditions in a critical historical context for portfolio strategy.
- Highlights leading market influences to define objectively the market context of risk and liquidity.
- Technical snapshot for quantitative traders and investors pertaining specifically to municipals.
|
