GIOA Conference

March 23th 2016

Core Bloomberg Analytics
For Our Current Market Environment
Raymond Johnson
Fixed Income Specialist
415 617 7014
rjohnson3@bloomberg.net
Current Interest Rate Environment

Price Discovery and Yield Curve

Analytics
GY
GY allows users to graph
yields historically to gain
insight into how the market
has evolved over time. You
can also plot additional data
such as economic indices on
the chart. GY allows you to
view historical yield with
news and events for a
related security, so you can
use charts to identify trends
and market patterns.
GC
GC allows you to monitor
interest rate and credit
curves to gain insight into
how the entire fixed income
market has evolved over
time. You can also plot
curve interpolations,
individual securities, and
new issue points to add
additional context for your
relative value analysis.
Tip: The lower chart may
be switch to a table
showing relative credit
spreads between curves.
HSA:
HSA allows you to display
and customize historical
spread analysis for swap,
government, curve,
butterfly, and box
strategies. You can display
historical data and charts,
so you can determine the
relative value of current
strategies and generate
trade ideas based on
combinations of bonds,
swaps, and futures
instruments. You can also
set alerts to notify you
when spread strategies
breach custom thresholds.
BTMM: The real-time
data in the market
rates section of the
screen provides you
with an overview of
the primary asset
class rates for the
specified country.
Integrated links to
related functions and
the ability to load
certain monitored
securities in the quote
line allows you to
perform further
analysis on specific
securities.
EDSF:
The synthetic forward rates
data allows you to monitor
Eurodollar future deposit
rates and calculate effective
yields for synthetic forward
rate agreements. The
information on the screen
highlights when there is a
market update. Editable
fields in the Bid/Ask/Last
column allow you to enter
your price(s) to determine
the most effective yield
priced off of a credit curve.
Credit Evaluation and Analytics

Credit Trends and Spreads

FICM:
FICM displays a high level
overview of the intraday,
real-time performance of
cash bonds within the
investment grade, high
yield, and emerging credit
markets, allowing you to
spot opportunities within a
particular sector by
comparing where spreads
have tightened or widened
on the day.
TFLO:
TFLO displays the buying
and selling volumes of
dealer-to-client, dealer-to-
affiliate, and dealer-to-
dealer fixed income deals,
so you can identify trading
opportunities in the credit
and agency markets. You
can filter data by sector,
maturity, rating, ticker, and
issuer to pinpoint
information specific to your
analysis.
TACT:
TACT provides an
overview of fixed
income trading
activity as
disseminated by the
Financial Industry
Regulatory Authority
(FINRA) via the Trade
Reporting and
Compliance Engine
(TRACE), allowing
insight into the bond
markets secondary
trading activity.
GC – Credit Curves
GC allows analysis of not
only government yield
curves but Industry and
Issuer Specific Credit
Curves. Compared current
curves to historical levels.
GC – Historical Data
By clicking a the spread
data in the lower table
Bloomberg allows user to
graph the historical spreads
between any two yield
curves.
Tip: GC allows not only
spreads to benchmark
curves but plots spreads
between individual issuers
curves and industry curves.
Price Discovery Analytics

Government, Agency and

Corporate Bond Price Discovery
BOOM
BOOM is a money-
market offering and
execution platform that
allows you to search for
liquidity within short
term U.S. money
markets, so you can
seamlessly identify,
evaluate, and execute
trades that complement
your strategy. You can
create custom searches
for offerings, then
analyze results and
launch tickets for the
securities you want to
trade.
DOCP:
DOCP is part of the
contribution's suite of
functions. This suite
includes several types of
pages, such as menu pages,
digital pages, page-based
pages, sortable digital
pages, and research pages.
This help page provides an
overview of each type of
page along with detailed
instructions on how to use
the tools and functionality
available from each type of
page.
NIM2
NIM allows you to
monitor news headlines
and security data related
to new issue bonds with
a real-time calendar, so
you can easily access key
issuance information
that helps you stay
ahead of the
marketplace. You can
also create custom
calendars that give you a
high level of control over
the data that appears, as
well as study a summary
of sector level statistics
that allows you to
expand the scope of
your analysis.
FIT
FIT is the fixed income
electronic trading
platform for U.S. rates
(U.S. Treasuries, Agency
TBAs, Agency
debentures) and a broad
set of global sovereign
debt. FIT links all
available fixed income
electronic trading
products into one portal
and provides multi-
dealer, executable
composite pricing, so
you can stage, monitor,
trade, and allocate
trades on Bloomberg.
IMGR
IMGR consolidates
indications of pricing
and liquidity across
multiple asset classes to
provide transparency
into your trading activity.
The sources of pricing
information feeding into
IMGR include quotes
mined from the
Bloomberg Message
(MSG) function, the
Runs Manager (RUNZ)
function (including both
pricing and dealer AXES),
single dealer offering
pages, and more.
QMGR: Consolidates
various indications of
pricing and liquidity
across multiple asset
classes to provide
transparency to your
trading activity for a
single security. The
sources of information
feeding into QMGR
include quotes mined
from the Bloomberg
Message (MSG) function
and the Runs Manager
(RUNZ).
BVAL:
Bloomberg's BVAL Price
analytic provides
transparent and highly
defensible prices across the
for a variety of fixed-income
securities including
government, agency,
corporate bonds, mortgage
backed, and municipal
bonds. The key to BVAL's
methodology is its real-time
access to market
observations. In addition to
sophisticated algorithms
used for prices,

Tip: BVAL assigns a Score

which can provide insight
into a bond’s liquidity.
Single Security Analytics

Yield Analysis for Treasuries,

Agencies, Corporates and
Floating Rate Securities.
YAS - Governments
YAS consolidates the
BLOOMBERG
PROFESSIONAL® service
yield analysis functions onto
a single screen and allows
you to price a fixed income
security based on custom
inputs, including spreads to
a benchmark issue or
benchmark curve. You can
calculate yields using
various market conventions,
day types, and
compounding methods.
YAS - Corporates
YAS consolidates the
BLOOMBERG
PROFESSIONAL® service
yield analysis functions onto
a single screen and allows
you to price a fixed income
security based on custom
inputs, including spreads to
a benchmark issue or
benchmark curve. You can
calculate yields using
various market conventions,
day types, and
compounding methods.
YA - Floaters
YA consolidates the
BLOOMBERG
PROFESSIONAL® service
yield analysis functions onto
a single screen and allows
you to price a fixed income
security based on custom
inputs, including in the case
of floating rate securities
discount margin (DM).
OAS – Callable Bonds
OAS1 allows you to
calculate the values for the
early redemption features
of a government or
corporate bond, so you can
make relative value
judgments based on credit
risk. You can create custom
credit curves and determine
the implied volatility
assumptions that the
market uses to price bonds
with redemption provisions.
FPA Carry
Calculations
FPA allows you to analyze
the purchase of a selected
fixed income security with
borrowed funds using
forward pricing, so you can
calculate and communicate
the terms of a sell/buyback
or buy/sellback deal. A
security's forward price
derives its value from
determining the repo rate,
which is the spread
between a bond's yield and
the short-term cost of
financing the bond.
FIHZ
Bloomberg’s Horizon
Analysis allows you to value
the expected total return of
a selected bond, swap, or
butterfly over a specific
time horizon, based on your
expectations regarding
reinvestment rates and
changes in yield. FIHZ
allows you to measure the
historical or predicted
future performance of a
bond, swap, or butterfly,
using your own
assumptions regarding
dates and rates.
FISA
Bloomberg’s scenario
analysis allows you to
compare and analyze the
profit/loss and percentage
return of a selected bond,
swap, or butterfly under
different scenarios based
on changes in specific
yields, dates, reinvestment
rates, or specified curve
shifts.
BAMR:
BAMR displays the
amortized or accreted value
of a bond to a specific
workout date so you can
use this value in your
investment strategy
decision.
 Portfolio Analytics

Fixed Income Portfolio Scenario, Cash

Flow and Risk Tools
PRTU:
The Portfolio
Administration screen,
which is the default screen
for PRTU, allows you to
create, share, and manage
portfolios, portfolio groups,
benchmarks, and strategies
that you have created or
that have been shared with
you.
PORT:
PORT empowers you to gain
deeper insight into your
portfolios by providing the
tools to understand the
structure of your portfolios,
analyze your positions and
active bets, and explain the
drivers of historical
performance and potential
sources of future risk. PORT
provides a streamlined
workflow that includes
intraday performance
monitoring, fundamental
characteristics, historical
performance attribution,
ex-ante tracking error,
scenario analysis, and
portfolio optimization.
PORT CASH FLOW:
The Characteristics tab
allows you to analyze the
fundamental characteristics
of your portfolio. For fixed
income portfolios, you can
see your portfolio's
duration, credit quality,
yield, and spread to
evaluate the core structure
of your investments. You
can also analyze your
portfolio's tenors on the
yield curve, observe
projected cash flows for
your portfolio,
PORT:
Portfolio Holdings
Breakdown and graphing
capabilities.
Bloomberg Excel Tools

XLTP: Sample Templates

XLTP
Bloomberg XLTP, Excel
Template Library provides
hundreds of excel templates
used by customer to
analysis fundamental,
market and economic data
allowing the creation of
proprietary spreadsheets
with individual customized
analysis.
Tip: Use the Search Box on
the top left to find
individual template of
interest.