Tag Archives: Bond Puzzle

The challenge posed by Puzzle #10: Erratic Bond Pricing? was to guess what might be the cause of apparently wild swings in market yields for some municipal bonds with the same issuer and maturity: Besides this blog, I shared the … Continue reading →

Puzzle #10: Erratic Bond Pricing? asks you what might explain some apparently erratic swings in yields for certain sporadically traded municipal bonds.  I stated that the bonds share the same issuer and maturity date. The puzzle is a bit sneaky, so … Continue reading →

At last week’s Municipal Finance Conference in Boston, I made a brief presentation in response to a paper1 that described a new approach to deriving yield curves from municipal bond trade data. The authors have applied neural network techniques to the … Continue reading →