March 2017 Municipal Market Returns

Selected S&P Indices:

Tot Return bps/dur
Municipal Bond Index
Intermediate Index
Investment Grade Index
High Yield Index

0.21%
0.29%
0.25%
-0.31%

3
5
4
-4

 

S&P Municipal Bond Index Components:

Years to Maturity Tot Return bps/dur
0.000-4.999
5.000-9.999
10.000-14.999
15.000-29.999
30.000+

-0.02%
0.32%
0.45%
0.31%
-0.48%

-1
6
6
3
-4

 
Ratings Tot Return bps/dur
Aaa / AAA
Aa / AA
A / A
Baa / BBB
Ba / BB
B / B

0.20%
0.24%
0.31%
0.50%
0.94%
0.69%

3
4
4
7
14
12

 
 
Outperforming Sectors Tot Return bps/dur
Life Care
Single-Family

3.05%
0.66%

44
8

Underperforming Sectors Tot Return bps/dur
State GO
Prerefunded/ETM

-0.08%
-0.14%

-1
-3

 

The tables above show returns for several indices and for various components of the Municipal Bond Index. To make returns in the tables comparable, each total return is divided by the relevant beginning-of-month effective duration, resulting in basis points per unit of duration (bps/dur).

Change during March 2017 for the Standard & Poor’s / Investortools AAA Rated Non-callable Municipal Yield Curve:

Dan Garrett, CFA
Vice President
Investortools, Inc.

Best Credit Data Partners with Investortools to Distribute Municipal Bond Pricing

NEWS RELEASE

Best Credit Data Partners with Investortools to Distribute Municipal Bond Pricing

Boston, MA (March 10, 2017) – Best Credit Data Inc. (BCD), a provider of bond pricing and analytics data, today announced a partnership with Investortools, Inc., the leading provider of Investment System Solutions for financial institutions

BCD’s Municipal Bond Pricing provides evaluated pricing and analytics for over 1.25 million U.S. municipal bonds every day with more than eight years of end-of-day history.  With this new partnership, Investortools' now has the ability to deliver BCD municipal bond prices to their portfolio management systems, such as Perform®, for clients who want a high-quality alternative to traditional pricing services.

“Investortools software is among the most widely-used and most respected work flow solutions products in the Municipal bond industry, being used by over 150 institutions for their fixed income analytics, indexing, modeling and more,” said James Suppelsa, Chief Operations Officer at Best Credit Data, Inc. “We are thrilled to be partnering with Investortools to help service their clients’ needs.”

Mark Bradford, Vice President of Client Service at Investortools, said, “As our clients seek more alternatives in pricing sources, we are glad to continue providing additional high quality evaluated pricing options like Best Credit Data. Their 100% coverage of the Muni bond market is important to our clients.”

Click here to view information about Best Credit Data on Investortools website. https://goo.gl/EB9iyQ

About Best Credit Data Inc. 
Best Credit Data is a Boston based data provider of US bond pricing and analytics. By using observation driven methodology and big data cloud computing technology, BCD is changing the bond pricing and analytics world by providing accurate and cost effect alternatives for pricing bonds for the entire universe of Municipal Bonds.

“About Investortools, Inc. 
Founded in 1983, Investortools specializes in portfolio management and credit analysis systems for institutional investors, including many of the largest mutual funds, banks, insurance companies, securities dealers, advisers, rating agencies and more. The company's products include: Perform®, a portfolio management system providing analytics, trade allocation, and compliance; CreditScope ®, a comprehensive credit analysis system utilizing Merritt Research Services data; Custom Index Manager™, a bond-level performance attribution system incorporating published bond indices; and Smart™, a short-duration portfolio system featuring 2a-7 compliance. 

For more information, please visit http://www.invtools.com

Contacts:

To learn more about Best Credit Data, please contact:

Jimmy Suppelsa, COO & Co-Founder
Best Credit Data, Inc. 
50 Milk Street, 15th Floor
Boston, MA 02109
(617) 429-2601
jimmy@bestcreditanalysis.com

To learn more about Investortools software, please contact:

Mark Bradford, Vice President, Client Services
Investortools, Inc. 
100 Bridge Street Plaza
Yorkville, IL 60560
Office: (630) 466-6466
markb@invtools.com

Keri Gaul, Vice President, Marketing
Investortools, Inc. 
100 Bridge Street Plaza
Yorkville, IL 60560
Office: (630) 466-6455
kerig@invtools.com

Investortools Integrates Perform® with the MarketAxess Municipal Bond Platform

NEWS RELEASE

Investortools Integrates Perform® with the MarketAxess Municipal Bond Platform

Delivers Seamless Order Flow, Execution and Access for Users

CHICAGO and NEW YORK, December 15, 2016 – Investortools, Inc., a software firm that specializes in solutions for fixed-income portfolio management, trading, compliance, credit analysis, and benchmark risk analysis, and MarketAxess Holdings Inc. (NASDAQ: MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, today announced that they have partnered together to provide real-time electronic trading functionality within the Investortools Perform® and Smart™ portfolio management systems, using the FIX® protocol. This integration of Investortools Perform® with MarketAxess municipal bond capabilities will result in seamless municipal bond order flow, execution and access for MarketAxess participants.

Investortools’ products and services are designed to assist fixed-income portfolio managers, traders, credit analysts, and other market participants with daily workflow challenges and allow MarketAxess to expand on its existing trading structure protocols including Bid Wanted lists of up to 200 items, Open Trading™ and dealer inventory, greatly enhancing centralized liquidity in today’s fragmented market. Perform’s order management capbilities allow participants to more easily manage challenges unique to the municipal bond market including:

  • Prioritizing trade allocations across thousands of portfolios while respecting compliance guidelines
  • Improving post-trade booking
  • Optimizing the speed at which transactions are processed
  • Sending information to more than one party simultaneously enabling greater access to liquidity

“We are delighted to team up with MarketAxess to provide expanded trading functionality within our products. Electronic trading is an essential ingredient in minimizing trade costs and maximizing efficiencies. We believe this partnership with MarketAxess significantly enhances our suite of products for our clients,” said Scott Bradley, President of Investortools. “Since launching in 1983, Investortools products have been used by more than 250 financial institutions. In addition, we continue to grow and maintain strong relationships with many vendor-partners in the fixed-income space.”

“This integration underscores MarketAxess’ unparalleled commitment to offering industry-leading fixed income technology solutions and partnering with the most respected experts in the bond industry, helping dealers and investors achieve success,” said John Gallagher, Head of Municipal Bonds and U.S. High Grade Product Management at MarketAxess. “Our platform is designed to deliver an optimal, fully integrated trading experience for clients trading municipal bonds, providing traders with immediate access to critical data and market insights. MarketAxess’ full straight-through-processing combined with Investortools’ connectivity will further enhance the user experience with access to increased speed, accuracy, and liquidity.”

More than 100 dealers and 300 institutional investor firms are connected to MarketAxess’ municipal bond platform, which as of October 2016 has recorded more than $1 billion in trading volume since its April 2016 launch.

About Investortools

Founded in 1983, Investortools specializes in portfolio management and credit analysis systems for institutional investors, including many of the largest mutual funds, banks, insurance companies, securities dealers, advisers, rating agencies and more. The company's products include: Perform®, a portfolio management system providing analytics, trade allocation, and compliance; CreditScope™, a comprehensive credit analysis system utilizing Merritt Research Services data; Custom Index Manager™, a bond-level performance attribution system incorporating published bond indices; and Smart™, a short-duration portfolio system featuring 2a-7 compliance.

For more information, please visit http://www.invtools.com

About MarketAxess

MarketAxess operates a leading electronic trading platform that enables fixed-income market participants to efficiently trade corporate bonds and other types of fixed-income instruments using MarketAxess' patented trading technology. Over 1,100 institutional investor and broker-dealer firms are active users of the MarketAxess trading platform, accessing global liquidity in U.S. high-grade corporate bonds, emerging markets and high-yield bonds, European bonds, U.S. agency bonds, municipal bonds, credit default swaps and other fixed-income securities. MarketAxess also offers a number of trading-related products and services, including: market data to assist clients with trading decisions; connectivity solutions that facilitate straightthrough processing; technology services to optimize trading environments; and execution services for exchange-traded fund managers and other clients. Through its Trax® division, MarketAxess also offers a range of pre- and post-trade services, including trade matching, regulatory transaction reporting and market and reference data, across a range of fixed-income products. Trax is the trading name of Xtrakter Ltd., a MarketAxess group company. MarketAxess maintains its headquarters in New York and has offices in London, Boston, Chicago, Los Angeles, Miami, Salt Lake City, San Francisco, São Paulo, Hong Kong and Singapore.

For more information, please visit www.marketaxess.com.

Media Relations Contacts: 

For Investortools, Inc
Keri Gaul
Investortools, Inc
+1-630-466-6455

For MarketAxess
Mary Sedarat
MarketAxess Holdings, Inc
+1-212-813-6226

Steven Bodakowski
RF|Binder
+1-212-994-7509

September 2016 Municipal Market Returns

September 2016 Municipal Market Returns

Selected S&P Indices:

Tot Return bps/dur
Municipal Bond Index
Intermediate Index
Investment Grade Index
High Yield Index

-0.34%
-0.31%
-0.45%
0.59%

-6
-6
-8
8

S&P Municipal Bond Index components:

Years to Maturity Tot Return bps/dur
0.000-4.999
5.000-9.999
10.000-14.999
15.000-29.999
30.000+

-0.30%
-0.18%
-0.38%
-0.54%
-0.31%

-14
-3
-6
-6
-3

 
Ratings Tot Return bps/dur
Aaa / AAA
Aa / AA
A / A
Baa / BBB
Ba / BB
B / B

-0/45%
-0.46%
-0.45%
-0.28%
-0.10%
-0.11%

-8
-8
-7
-4
-2
-2

 
Outperforming Sectors Tot Return bps/dur
Life Care
Single-Family

0.47%
0.32%

9
5

 
Underperforming Sectors Tot Return bps/dur
State GO
Prerefunded/ETM

-0.52%
-0.02%

-7
-7

Change during September 2016 for the Standard & Poor’s / Investortools AAA rated Non-callable Municipal Yield Curve:

The tables above show returns for several indices and for various components of the Municipal Bond Index. To make returns in the tables comparable, each total return is divided by the relevant beginning-of-month effective duration, resulting in basis points per unit of duration (bps/dur).

Dan Garrett, CFA
Vice President
Investortools, Inc.