Penelope Lemov is a GOVERNING correspondent. She was GOVERNING's health columnist and was senior editor for several award-winning features.
E-mail: plemov@governing.comTwitter: @governing
Finance
More Over Nasdaq, Muni Bond Prices Are Now Online
A Web site launched in January is a big breakthrough for both investors in and issuers of municipal bonds. The site offers the closest thing yet to a real-time "ticker tape" on bond prices.
By clicking on a series of buttons on www.investinginbonds.com, investors can view five months' worth of prices, coupons and other relevant information for a specific bond. Information on frequently traded bonds will have a time lag of a day; information on other bonds will lag by two weeks.
Issuers can see how fast a recently issued bond is being absorbed by the market or how well bonds issued by other state or local agencies are faring. They can also assess what interest rates they are likely to pay if they are about to come to market--based on what similar bonds are paying.
A joint effort of the Bond Market Association and the Municipal Securities Rulemaking Board, the site is an improvement over a 1998 version that provided price information but only on the most frequently traded bonds and a 1995 version that also provided price data but only on dealer-to-dealer trades. This latest daily muni summary provides prices on all bonds in the marketplace, regardless of frequency of trades. "These changes make our muni trade data readily accessible for people making investment decisions--one of our primary goals in mandating transaction reporting," says Christopher A. Taylor, executive director of the MSRB. "All market participants--investors, issuers and dealers--will have a clearer picture of muni market activity."
They will have an even clearer picture in 2004. That is the date set for rolling out real-time transaction reporting with only a 15-minute delay.
If you enjoyed this post, subscribe for updates.
Twitter: @governing
Latest from Finance
- Homeowner Bill of Rights to Become Law in Minnesota
- Minnesota homeowners facing foreclosure will soon get added protections under a bill Gov. Mark Dayton is expected to sign into law.
- Miami Commission Considers Different Pension Rules for Executives
- Miami city commissioners, who in recent years have cut severance pay and pensions to balance budgets, could vote Tuesday to allow four of the city's highest earners to return from retirement and collect their pension on top of their hefty salary.
- Oklahoma Tornado Damage Could Reach $2 Billion
- Up to 13,000 homes were damaged or destroyed by Monday's tornado that may have caused up $2 billion in damages, nearly double earlier estimates.
- Arkansas Treasurer Resigns
- State Treasurer Martha Shoffner resigned a day after appearing in federal court to face an extortion charge.
- Colorado's New School Finance Law Depends on Tax Vote
- Colorado Gov. John Hickenlooper signed into law a new school finance bill that would change the way the state doles out money for education — but only if taxpayers pass an estimated $1 billion tax increase.
Jobs in Finance
Browse thousands of available finance jobs. Find a finance job with detailed, free information on key career areas in finance. Or post a job.
View or Post Finance Jobs
Finance Newsletter
Our monthly email newsletter provides an exclusive review of issues relating to financing of government operations, including taxation and revenue, budget policy, bond financing and public pensions (monthly).
Twitter
Facebook
LinkedIn
YouTube
Flickr
RSS
© 2011 e.Republic, Inc. All Rights reserved. |