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Duration: 1:57

Instructor:

Contributor: Interactive Brokers

Level: Beginner

Interactive Brokers’ senior market analyst Steven Levine highlights the wealth of available information offered by IBKR’s Global Bond Scanner with which investors may use to conduct fundamental analysis on municipal securities. This due diligence lesson comprises the third of three parts in the U.S. Municipal Bond Market video series, available at IBKR Traders’ Academy.

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Study Notes:

Diver Advisor Municipal Bond Reports by Lumesis

The IBKR Trader Workstation (TWS) offers a long list of relevant details about specific municipal bonds from its third-party research provider Lumesis.

Access the Bond Reports

To access the information through the Trader Workstation, simply right click on the security in the Bond Scanner, select ‘Financial Instrument Info’ in the menu that appears, then ‘Lumesis Bond Details’ in the next pop-up box.

A new tab should then appear in your browser with a myriad of information pertaining to the bond.

The details include:

  • The bond’s CUSIP,
  • The issuer’s website,
  • The maturity date and dated date

Links to the MSRB’s Electronic Municipal Market Access database, or EMMA

EMMA houses the bond’s Official Statement and Continuing Disclosures, among other municipal issuance-related documents.

You’ll also find links to relevant news, as well as credit ratings

Trading history and yield performance

The DIVER Geo Score: which is a proprietary measure of the relative economic health of the issuer’s geography

And sector-based economic data, including, in the case of this Maine GO

  • The state’s unemployment rate, and
  • Median household income.

  • As well as a host of other details.

All this research is intended to provide investors using the IBKR Trader Workstation with the tools and means by which to help them make an informed investment decision.

Disclosure: Interactive Brokers

The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

Supporting documentation for any claims and statistical information will be provided upon request.

Any stock, options or futures symbols displayed are for illustrative purposes only and are not intended to portray recommendations.

Disclosure: Futures Trading

Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at ibkr.com.

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