It is also fully consistent with benchmark references that are well known to international investors, such as Constant Maturity Treasuries and Constant Maturity Swaps This index could also be used as a reference for non sovereign issuers and is frequently used for various commercial contracts ISIN : FR Final terms available on the AMF website.
Central Banks Associations Sovereign issuers Other partners. About 60 people were present in the amphitheatre provided by Bloomberg. The stakes of energy transition are high and the green bond market needs to inspire trust, be transparent as well as innovative in order for the investors to make use of the available savings. Municipals Suggested Screens for Analyzing Municipals The main Municipal menu is similar to other market sector menus. The benefits of using mnemonics over menu numbers are: 1.
Menu items with an asterisk next to next to them indicate a one-line function that won't disturb the screen you are working on - information will be displayed on the top line of the screen. Once you select a municipal bond you don't have to reselect it every time you run another function. There are approximately 70 different functions you can run on any one municipal bond.
For each sector an option-free yield curve is constructed daily. GBY G. Yield Curves, allow you to see where the municipal bond market closed and gives AAA levels as a percent of Treasuries. MTAX Municipal Tax, displays tax free yields for the chosen FMC curve, calculates taxable equivalent yield for tax-free municipal bonds at a given marginal tax rate and the yield percentage of tax-free municipal bonds to Treasury bonds. FWCV Forward Curve Analysis, project yield curves for any future date based on the implied spot rates in today's curve and display the forward rates embedded in today's yield curve.
ET Electronic Trading over Bloomberg. W Worksheets are very similar to the Monitor screens but provide more flexibility in terms of customizing columns, formats, and colors. USD Monitor active, on-the-run, U. If you have access to a contributor's offerings, you also have access to their pricing.
MUPC Muni Price Sources, daily municipal pricing by listed contributors is fully integrated within Bloomberg's analytics, this capability includes pricing your Bloomberg portfolios and even downloading to your PC. These prices can be integrated within Bloomberg's analytics. You must be authorized by the provider. If you are a dealer, MBWD lists all the buyers who have authorized you to see their bids wanted. To alert you that a firm has posted a bid list, an asterisk will appear next to the firm name.
If you are a portfolio manager or an investment advisor you no longer need to fax or phone bid lists to dealers and dealer banks, coordinate their returning calls, and rank their bids. Contact your Bloomberg sales representative or the Analytics Desk if you are a buyside firm and would like to participate. This will provide an alphabetic listing of the dealers.
Only firms of your choice will be enabled. This privilege has to be granted by Bloomberg. Call your sales representative for authorization. Contact your Bloomberg sales representative for access to this screen. As dealers enter offerings onto the Bulletin Board they will scroll through different categories. Dealers can show out offerings using the Municipal Bulletin Board.
BLR Blue List Offerings, is a daily national publication which lists offerings by dealers, including par amount, issuer, coupon, maturity, and price or yield, as well as the dealer who is offering them. The offerings which have been added to the list for next day publication appear immediately on the Bloomberg. From the menu simply type the menu number of the broker you want to see. These screens monitor, so as long as you are on the first page, you will always automatically see the latest bids wanted.
You can also go directly to any broker's page by using the broker code found on the BIDW menu. This provides a list of the brokers available to you. You can use BL to access. This function lists a majority of the brokers and displays their markets free of charge. Keep on top of what is being offered and where. If the unsold balance is shifted to the right, the balance per maturity is available.
Competitive Calendar, CDRC, will keep you up-to-date on the latest competitive issues coming to market. Prior to sale, an asterisk shows that we have pre-sale information. CNDS Short Term Calendar, keeps you up-to-date on the latest competitive and negotiated short-term issues coming to market. An asterisk indicates pre-sale information is available. CFS Bond Issue Structuring, calculate the cash flow for your input structure or structure the total bond issue, calculating the issue size so that the annual total debt service payments are equal.
Search for financial statements by type of revenue or by state and then message the Bloomberg municipal department requesting the information. MBIX Latest Muni Bond Indices, provides a list of municipal indices, their current level and the previous level and lets you quickly see any changes in the market indicators. An individual state's reports contain mortgage information, such as mortgage rates and delinquency statistics, and bond information, including principal outstanding, principal called and indenture provisions.
SRC Municipal Search, search for municipal bonds having common characteristics. BFV uses option adjusted spread methodology to determine a price, given a volatility assumption. Description, conveniently provides a wide range of qualitative as well as quantitative information about.
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SER Bond Series Information, reconstructs the entire deal and provides the maturity date, par amount, coupon, price, Cusip and call features for all the bonds in the deal. MCNO Municipal Redemption Information, provides bond redemption information call dates, amounts redeemed and number of bonds called for municipal bonds in chronological order. YA Yield Analysis, calculates yields to the maturity date and to a particular workout date with or without concession.
The settlement date, concession, price, yield, and workout date are modifiable screens allowing us to customize the screen. We also give you cash flow components of a purchase and hold to workout date. Print it out in the morning for easy access throughout the day. OAS1 Option Adjusted Spread Analysis for a single security, measures a bond's return against an implied spot curve and employs option pricing techniques to value its embedded options, that is, put, call or sinking fund provisions.
By stripping the embedded options, OAS measures the "richness" or "cheapness" of our security to the curve and allows you to compare bonds on an apples-to-apples basis. The OAS1 screen is interactive allowing us to perform analysis under various assumptions. Determining whether your tax rate will be at the capital gains rate or the ordinary income tax rate or a combination of the two depends on the amount of any original issue discount, time since issuance, time until maturity, purchase price and assumed time and price of sale.
CN All News and Research, compiles all news and research reports relating to a specific security. It provides a quick, easy way to see all the news relevant to a specific security. SCN Stratified News, displays three tiers of news headlines for a selected security: security, bond series and issuer. MDES Dual Muni Description, allows you to compare two municipal bonds side-by-side so you can quickly see whether you are giving up or getting call protection.
You can access the function from anywhere in the system, hence, bypassing menus. Menu items with an asterisk next to them indicate a one-line function that won't disturb the screen you are working on information will appear across the top of the screen. Finding a Security To access and perform analytics on any security on the Bloomberg you must know the ticker symbol or Cusip. It is like a monitor screen, but needs to be refreshed. This lists ticker symbols for currency spot rates, cross exchange rates and forward exchange rates.
CTM Futures Tickers, by Category, a Contract Table Menu, displays one and two letter ticker symbols for all future contract's tickers traded worldwide, a check mark next to ticker indicates options are available on that future. HMS 4-in-1 Price Graph. Compare the U.
Compare these curves historically.
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You can analyze past, actual or future, projected total return for these yield curves. I All Currency Indices, you will find all currency indices including "fixings" which are the official currency rates from, for example, the Federal Reserve or the Bank of England. CM Currency Monitors, are live, preset monitor screens that update dynamically.
They allow you to monitor all the major and most of the secondary currencies. These will let you monitor your own securities side by side with international government issues.
W Personal Worksheet, similar to monitors but provides much more flexibility. FXC Cross-Rates, displays a matrix of Bloomberg Composite rates, and provides a quick snap shot of the interrelationships between all actively traded currencies. The matrix intersections are the amount of the row currency per column currency.
WCR World Currency Rates, displays relative positions of world currencies to a base currency of your choice. WCR sorts currencies by specified periods and percent changes in ascending or descending order. View swap rates.
LIBOR, yield curves, create and update interest rate swaps, generic swap calculators, perform swap-hedging analysis. One Security Analytics Once you define a currency you do not have to redefine it every time you run subsequent analytics. There are 2 pages, approximately 80 different functions you can run on any one currency. DES Description, for currency will display how the currency is quoted, i. BQ Bloomberg Quote, displays a composite overview of key information on a selected currency. Since this is a one line function it won't disturb the screen you are currently working on.
GIP Graph of Intraday Prices, allows you to see every trade which has occurred in a currency and how the currency rate has reacted to a news announcement. Shows how much it will cost in U. The benefits of using mnemonics over menu numbers are: 3. Ticker symbols will appear on the right in parenthesis followed by country codes for all countries beginning with TEX. Make sure you use the ticker symbols corresponding to the correct exchange. If you type the ticker symbol without the country code, it will default to the equity trading on the primary exchange chosen on your personal defaults.
Market Averages. Not only does this function give absolute changes but also percentage changes so you can make meaningful comparisons between exchanges. Stocks or groups can be listed in the order of their absolute impact, net change on the day, or volume. ET Bloomberg Electronic Trading.
Trade stocks via Bloomberg with leading market makers throughout the world. NN Equity News Menu, comprehensive coverage of all equity markets. MOST Most active, most up, most down, most change in value up-to-the- minute. The news stories on these stocks. W Worksheets are very similar to the Monitor screens but provide more flexibility in terms of customization, selecting columns, viewing.
USD U. Treasury Monitor, monitor active, on-the-run, U. EX Ex-Dividend Calendar, lists a worldwide calendar of companies going ex-dividend, and searches for equities based on the ax-dividend date. Equities with ax-dividend dates today, several days prior, and into the future are displayed in ex-date order.
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ECDR New Equity Calendar, lets you follow an equity through the entire IPO process, starting with the initial registration process, and actually monitor its progress once it goes public via an equity scoreboard. For equity daily changes, such as, ticker changes resulting from a merger, and delisting information. Are stocks that led the market today the same ones that led the market over the last week, the last month, or the last three months?
Locates trade ideas by finding stocks which have extreme points in their trading patterns. The different types of equity searches you can do are only limited by your own imagination. BBEA Each quarter during earnings season we summarize earnings announcements.
Historical Multiple Security Graphs, 4-in-1 Price Graph, displays the graphs of historical closing prices for up to 4 securities on a single display. Contributed Information. ANB Bloomberg Equity Analysts, displays a list of Bloomberg personnel responsible for financial statement and fundamental equity products on Bloomberg.
Single Equity Analytics Once you define an equity you do not have to reselect it every time you run another function. There are 3 pages, approximately different functions you can run on any equity. The following are suggested functions that will get you started: Today's Markets. It displays ticker, currency, change from last tick, current price, change on day, and exchange last trade occurred. The Bloomberg Quote displays 12 unique items about your company on a single screen so you can quickly glean "what's going on with your company's stock.
QR Trade Recap, quickly identifies each transaction for a selected equity. QR presents the time, the size and price of each transaction, as well as presenting the exchange on which each transaction took place, and the conditions under which the trade was executed. TSM Trade Summary Matrix, displays the volume and number of trades that occur at the bid, mid and ask levels per given trade price.
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ANC Analyst Coverage, provides an alphabetical list of firms and the analyst's covering a selected stock. DES Description, the description page is similar to the Bloomberg Quote but provides a 10 page description of a company and its business. Page three provides key fundamental ratios. FA Financial Analysis, displays company financial history and ratios, Income statements and balance sheets are set in a consistent for format for easy comparisons. Determine the value of a company from fundamental perspective. CH Company History Fundamentals , provides a series of fundamental data screens.
Income statements and balance sheets are set in a consistent format for easy comparisons. DVD Dividend Detail, displays full dividend, split and distribution information. It lists the declared ex-dividend record and pay dates, as well as the amount of the dividend and the type of payment. EE Earnings Estimates, identifies Wall Street analysts EPS estimates for the coming two fiscal quarters and years, and the recent trend of those estimates over the last month. You will be able to quickly discern if the analysts are getting bullish or bearish on your company's earnings prospects.
Sources include Nelsons and Zacks. MGMT Management Profiles, view key corporate executives profiles, board memberships, career experience, and personal statistics. GIP Graph of Intra-day prices, is a monitor that displays a growing graph of intra day price ticks, see every trade which has occurred in a stock. This graph can be especially important to see how the stock's price has reacted to news, such as, an earnings announcement, an ousted CEO, or an oil spill.
The screen initially displays today's intra-day trading activity, but up to five days can be displayed. HP Historical Price Table, provides a table of historical closing prices and volume. It provides historical open, high, low and closing prices and daily volume. GPO relates historical price action with intra-day activity. The intraday data provides clues as to where changes may potentially occur. Daily volume confirms how "real" each day's price movements are. GP3 Historical Price Oscillator, identifies changes in the primary trend of a stock's price. To locate turning points in trend, GP3 calculates two arithmetic moving averages and charts their difference, which is shown at the base of the screen.
General description of ECB yield curves methodology A yield curve which can also be known as the term structure of interest rates represents the relationship between market remuneration interest rates and the remaining time to maturity of debt securities. Data availability Daily yield curves are now available, with data from 6 September onwards, and are calculated and released on a daily basis according to the TARGET calendar. Ratings provided by Fitch Rating. Selection of bonds The following criteria are applied when selecting bonds: Only bonds issued in euro by euro area central government European System of Accounts sector code 'S.
Bonds with special features, including specific institutional arrangements, are excluded. Perpetual bonds and variable coupon bonds, including inflation-linked bonds, are not included. Only actively traded central government bonds with a maximum bid-ask spread per quote of three basis points are selected. In order to reflect a sufficient market depth, the residual maturity brackets have been fixed as ranging from three months up to and including 30 years of residual maturity.