In today’s complex and increasingly regulated financial markets, accurate and defensible pricing is essential. To help market participants keep up with this demanding environment, Bloomberg’s evaluated pricing solutions for fixed income and derivatives provide more data, more often, with more transparency.
Fixed income pricing
Independent and transparent evaluated pricing for over 2.7 million securities.
Derivatives pricing
Independent valuation of OTC derivatives across all asset classes.
BVAL Curves
Investment-grade sector curves and AAA municipal curves.
Fixed income pricing
Bloomberg’s award-winning evaluated pricing service, BVAL, supplies independent and transparent evaluated pricing daily for over 2.7 million securities for all asset classes across the liquidity spectrum, including thinly-traded and hard-to-price fixed income securities.
Unmatched transparency
BVAL details and explains every step in the valuation process and provides insight into the data inputs and algorithmic methodologies used so firms can justify all aspects of how pricing valuations are derived.
BVAL Score
Bloomberg valuations are supported by the BVAL Score, a proprietary measure showing the relative amount and consistency of market data used to generate each evaluated price.
Sophisticated methodology
Drawing on real-time market observations from a wealth of contributed sources, BVAL produces valuations on actively traded bonds several times a day. For securities that are less liquid, BVAL derives a comparable relative value price.
High-quality sources
BVAL uses pricing data from only the highest quality market contributors—including TRACE, MSRB, exchanges and broker quotes—and filters, cleanses and verifies this data further. Seasoned capital markets experts monitor the process.
Price challenge process
Clients that disagree with an evaluated price can reach out to BVAL’s evaluator team, which will analyze the securities in question and rapidly respond with a detailed explanation or resolve the issue.
Easy access
Access BVAL pricing data via the Bloomberg Terminal or as an enterprise data feed at Data.Bloomberg.com.
Fixed income coverage
- 98K US government, sovereigns & agencies
- 95K IG & HY corporates & convertibles
- 98K CLOs
- 45K Emerging markets
- 11K Private placements
- 9K Syndicated loans
- 5K Defaulted bonds
- 1K Convertibles
- 1.3M Pools & TBA
- 218K Structured agency MBS
- 60K CMBS
- 58K Non-agency RMBS
- 22K International
- 7K Consumer & esoteric ABS
- 479K Tax-exempt munis
- 286K Bank qualified munis
- 80K Taxable munis
- 39K Refunded, ETM
- 23K Housing munis
- 21K Distressed & defaulted bonds
- 11K Rates & esoteric
- 10K IG issuer & sector curves
- 1K HY issuer & sector curves
- 400 US municipal issuer & sector curves
Derivatives pricing
Data & model transparency
Granular access to pricing tools and industry-standard derivative valuation models, providing maximum flexibility and performance.
Cross-asset product coverage
Ongoing and historical valuations of OTC products, from simple delta one and linear contracts up to the most complex bespoke and exotic structures, including multi-asset hybrids.
Golden copy data
Market data inputs validated by financial engineers employing best-in-class and market-consistent techniques for outliers filtering, data aggregation, curve stripping and volatility modeling.
Derivatives coverage
BVAL Curves
Investment-grade sector curves
BVAL offers a comprehensive library of more than 600 corporate and government sector curves, all fully integrated into Bloomberg Terminal analytics. BVAL Sector Curves are constructed using mid-yields from senior unsecured bonds with the same industry sector, credit rating category and currency denomination.
- Global coverage
- Transparency
- Discoverability
- Updated daily
- Historical data
AAA Municipal Curves
BVAL’s AAA Municipal Curves use real-time trades and contributed sources to reflect movement in the municipal market as it is happening. The BVAL AAA Callable Curve is a standard market scale with non-call yields up to year 10 and callable yields thereafter. The BVAL AAA Baseline Curve normalizes callable bonds using BVAL’s expected redemption date (BERD) and is used for BVAL pricing.
- Pricing available on the hour from 9am – 4pm EST
- Color-coded market movement
- Export to Microsoft® Excel button
- Ongoing monitoring by BVAL’s team of market experts
- Monthly interpolated scale view
- Ability to interpolate yield to custom date
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Additional Resources
To submit a complaint regarding a Bloomberg valuation, please send correspondence to BVALcomplain@bloomberg.net