FIXED-INCOME ANALYTICS
About MuniBondPricing
An issuer-focused municipal bond valuation and educational analytics application.
Why this application was created
MuniBondPricing was created to make sophisticated municipal bond valuation more transparent and accessible. Many professional fixed-income systems are designed primarily for traders and investors. This application emphasizes the municipal issuer's perspective, including the price received for a specific bond structure and the economic cost of an embedded call option.
How it can be used
- Define a municipal bond's coupon, issue date, settlement date, maturity, and call provisions.
- Construct and compare taxable Treasury and tax-exempt municipal spot-rate curves.
- Price non-callable and callable bonds using QuantLib-based calculations.
- Evaluate call-option value with Black–Karasinski or Hull–White short-rate models.
- Review sensitivity, scenario, maturity-ladder, and interest-rate-tree analyses.
- Support issuer education, policy analysis, financial-advisor review, and classroom instruction.
Limitations and Cautions
The application is an analytical and educational tool. Results depend on the rates, assumptions, model parameters, conventions, and bond features entered by the user. It is not a substitute for the official pricing process. Please consult a municipal financial advisor who has experience in the municipal bond market and bond issuance, as well as knowledge of derivative-pricing methods, and seek other appropriate professional advice.