For Public Finance
For Muni Investors
For Fixed Income
Cash Flow Analysis
Start Your Trial
(Un)Calculated Risk | by Peter Orr of Intuitive Analytics
MSRB: On MA exam, what is “Forfeited Option Value” in a Refunding?
3 Things that Drive “Advance Refunding Option” Value
Press (and Fed): Market-based expectations wrong for issuers and investors
New Headline: Muni Issuers Make Outstanding Speculators
Why this is the Best Refunding Policy Ever
Why Corporates don’t get Munis – It’s Refundings, Stupid
New Tech for Investors: Refunding Adjusted Yield (RAY)
Trinity Uses RAY to assess 4s vs 5s - 2nd Gen Refunding Matters!
Why Option Pricing Models are Wrong for Tax-exempt Issuers (Part 2)
Why Option Pricing Models are Wrong for Tax-exempt Issuers (Part 1)
The Right Analysis for Refundings – MSRB, Take Note
Refunding Adjusted Yield (RAY) Shines Light on Issuer Financing Cost
Hull-White add Weight to New Interest Rate Modeling Research
Refundings Show Finance Profs How to Colossally Screw-Up Finance
New Research: Advance Refunding Always Destroys Value - Use a Swap
2013 Discovery - The Missing Link in Interest Rate Modeling!
Muni Call Options: Information vs Price
50 Years of UST Yields - How Well do Forwards Predict?
Slogan of the Month Winner: Bloomberg! "Listening to Our Clients"
1 thing to know - Bettors, Bookies, and Tax-exempt Debt Managers
HELP! Can SOMEONE Calculate Refunding PV Savings?
VIDEO: Muni Bond Sizing through Linear Optimization
VIDEO - Optimization in Muni Bond Sizing
VIDEO: Linear Algebra of Public Finance Debt Sizing
Is the Treasury Really Going Long?
Public Finance and the 2nd half of the Technology Chessboard
Hey, We had a Tax Event!...and a Century of Top Tax Rates
Sequestration may lead to $255MM in BABs subsidy cuts
VIDEO: Using Excel to Size a Muni Bond Deal
Municipal Defaults - 36x Higher Than You Think (and other myths)
The RIGHT refunding discount rates to use? Wrong question...
The ‘Formula that Killed Wall Street?’ or ‘Know A Bad Rate Model When You See It’
VIDEO: Cashflow Risk Statistics for Tax-exempt Debt Management
VIDEO: SIFMA and LIBOR Interest Rate Model for Public Finance
VIDEO: Analyzing Fixed vs Floating using CFaR and Product Efficiency
Refunding PV Savings - Arbitrage Yield or Zero Rates?
Minimize Refunding Negative Arbitrage or Maximize Savings?
Changing Times: Our 2012 New Year's Resolution to Public Finance
How much Apple is in your Public Finance?
93 Years of Top Tax Rates: What it means for Public Finance
A Quick Guide to CUSIPs in Public Finance
Why Forward Rates Should NOT be Used in Forecasting
50 Years of USTNote History - Is Default the Next Event on the Chart?
Good News for Muni Issuers: Rate and Ratio Correlations Still Work!
5 Risks to Capture Using Monte Carlo to Analyze Tax-Exempt VRDBs
5 Things a True “Muni Expert” Would Say About Municipal Defaults
How do you track Public Finance Material Event Disclosures?
Top Ten Reasons Why Public Finance Data Initiatives Fail
NEWSFLASH: SIFMA/LIBOR Shows Tax Rates Trend to 0%!
Biggest Benefit to Superior Public Finance Analytics? The Questions
Basel III and the Future of Bank Supported VRDBs in Public Finance
4 Ways to Make Killer Public Finance Debt Service Charts, Part 2
4 Ways to Make Killer Public Finance Debt Service Charts, Part 1
Issuers BEWARE: Tax risk is NOT in LIBOR Swaps!
Want to Get Hired by More Public Finance Issuers? Know Your Position
How Many Refunding Opportunities are You Missing?
The Flaw of Averages, Muni Style: SIFMA/LIBOR and Rates
Financial Decision Making: 3 Questions Every CFO Must Ask and Answer
Financial Software: Top 10 Reasons Why a Database Kicks a Spreadsheet’s Butt
Darwin Predicts Rise of Small Business!
Financial Software: The answer to “Build or Buy?”
The NYTimes and the 0.14% that Swallowed Your Town, pt3 (final)
NYT and the 0.14% that Swallowed Your Town, pt 2
My beef with the NYTimes and Morgenson on Municipal Swaps, pt1
Too Much Raw Data in Your Probabilistic Analysis? It’s Likely
Monte Carlo: Model, Method, or Nice Place to Visit?
Top 5 Things Your Public Finance Software Must (now) Do
Refunding Efficiency: Not the Holy Grail of Decision Criteria
NYT and Press: Get Your Facts Straight About Municipal Swaps
The Big BAD Mistake about BABs
Green shoot economy…infested with parasites?
Are munis over-hedged with swaps? Pt3
Are munis over-hedged with swaps? pt2
Are munis over-hedged with swaps? pt1
Forecasting in the “Fog”
The REAL Challenge for Investment Banks, Part II…
The REAL Challenge for Investment Banks: Part 1
VaR and the Meltdown
Behavioral Finance, Spreadsheets, and Bad decisions
Financial Software: The Good, the Bad, the Ineffective
Finance Professionals: Black Box or Glass Box?
My Disagreement with Fischer Black
Are Financial Models Worthless? Risk and Uncertainty…
Welcome to (Un)Calculated Risk
Subscribe to our Articles
Browse by Tag
public finance analytics
public finance software
interest rate model
municipal finance software
yield curve modeling
risk in finance
refunding adjusted yield
build america bonds
cash flow at risk
debt service chart
public finance marketing
Tax and Accounting Issues
variable rate bonds
debt service graph
future tax rates
interest rate markets
Maximum Annual Debt Service (MADS)
monte carlo method
monte carlo model
Organization for Economic and Co-Operation and Dev
SmartModels Stage III
swaps that swallow town
The Program for International Student Assessment (
Weighted Average Life
View all +