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Historical Estimated Bond Prices

Market Sector: Building
PUERTO RICO PUB BLDGS AUTH REV UNREFUNDED BAL-GOVT FACS-I, 5.25%, 07/01/2033


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$ .
Fair Value Method: Historical average (Type 1)
How was this calculated?

Estimated bond prices are based on one of the following methods: Type 1) Reviewing observable market prices during recent timeframes, Type 2) For those bonds that do not have recent observable market transactions, prices are derived based upon the value of the income stream of the bond at maturity relative to bonds of a similar class.

 
How was this calculated?

Current Bond Summary

CUSIP: 745235D65   Current Estimated Price: $69.00
Yield to Maturity: 4.943%   Current Yield: 0.00%
Last Price: $65.36 (7/28/2014)   Last Trade Date: 7/28/2014
Market Sector: Building   State: Puerto Rico
Maturity Date: 7/1/2033   Coupon: 5.25%
30 Day Avg Volume: 117,683  
Dated Date: Upgrade Now   Next Pay: Upgrade Now
Interest Payment Dates: Upgrade Now   Tax Status: Upgrade Now
Stress Test: Upgrade Now
 

Recent Trades [ show more ]
 

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Market

2 stars

Market ratings reflect default risk based upon market perception. This bond has more risk relative to bonds in a similar class. Default risk is based on the difference between a bond's yield and the yield of a treasury bond of equivalent maturity. A large difference generally means the market requires a higher yield to compensate for the higher default risk compared to a Treasury bond, which is considered relatively risk free.

Yield

0 stars

This bond's yield rating is based on its yield relative to bonds in a similar class. This bond is currently unrated in terms of yield.

Liquidity

3 stars

This bond's liquidity is average relative to bonds in a similar class. This is based on the number of retail investor trades in the last 30 days.

Volatility

3 stars

This bond's volatility, or interest rate risk, is based on the number of years a bond is exposed to changes in the interest rate, known as duration. This is computed by calculating how many years it will take to repay the price paid for the bond, based on its cash flow. This bond has a duration of 11 years, which ranks it in the middle third of its class.

Municipal Bond Independent 3rd Party Valuations


Determining the right price for a municipal bond can be complicated for investors. Generally, only about 1% of all municipal bonds trade on any given day so it is unlikely that a bond requiring pricing has a recent trade to use to determine its price. Accordingly Bondview relies on industry best practices to evaluate a bond's fair market value by using the Financial Accounting Standards Board guidelines (Topic 820 formerly known as FASB 157). Our valuation methodology classifies bonds into Type 1 and Type 2 according to the FASB 157 accounting standards as follows:


Type 1: Estimated fair value bond price is based on reviewing observable market prices during recent timeframes.


Type 2: For those bonds that do not have recent observable market transactions, prices are derived based upon the value of the income stream of the bond at maturity relative to bonds of a similar class.


Our methodology have been tested across an extensive repository of municipal bond market data. We estimate municipal bond prices using real time market data input into our proprietary pricing algorithm. By utilizing an accepted alternative ratings practice known as market ratings, bonds are grouped according to certain factors, including state, sector, maturity, coupon and tax status. The group's trading and yield range serve as a proxy for the bond requiring pricing. As a result, BondView estimated prices are updated in real time and for real reasons.


This approach is in contrast to a common industry practice of pricing bonds primarily based on groups of similar Rating Agency credit ratings. These legacy pricing practices sometimes result in inaccuracies because they do not consider the unique features of a bond or its issuer-- for example, the state or sector in which the bond was issued. In reality, each issuer has their own credit risks and financial concerns, which translate to pricing differences in the marketplace. BondView's approach mitigates the potential inaccuracies of the Rating Agency approach.


BondView's Estimated Prices are powered by the company's unique repository of millions of bonds across about 50,000 active state and local bond issuers. The BondView repository provides information on all individual municipal bonds, including a complete trading history, estimated current prices, yield curves, dealer trading ranges, and the proprietary market ratings for each bond.



Disclaimer

Bondview.com's mission is to educate and provide simple and useful analytical tools to help investors make better investment decisions. We rely on financial data provided by 3rd parties. The data is believed to be accurate, but is not guaranteed or warranted by Bondview. This Site is intended only as an informational tool for your convenience, and should not in any way be construed as investment advice by Bondview. If you make investment decisions based on information you receive in connection with the Site, you do so at your own risk and Bondview and its employees will not be liable for any losses that you may sustain. Site users should conduct their own independent research and due diligence and obtain professional advice, if necessary, before making any investment decisions or recommendations. BondView.com gives no express or implied warranties, including, but not limited to, any warranties of merchantability or fitness for a particular purpose or use. In no event shall BondView.com be liable for any indirect, special or consequential damages in connection with subscriber's or others' use of the information provided by BondView.com.

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