Corporate Bond Pricing Intelligence

Fair value for corporate bonds your screen cannot quote

Deep MM turns trade prints, dealer axes, and cross-asset signals into IG and HY pricing your desk can act on.

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DEEP MM PRICING SIGNALS: IG CORPORATE 09:47:22 ET
Issuer Cpn% Maturity Last OAS DMM FV 24h Chg
Hartwell Financial 3.875 03/2028 142 138 -4
Meridian Capital 4.250 07/2030 167 171 +3
Lakeside Holdings 2.625 11/2027 118 121 +2
Pacific Coast Utilities 5.100 09/2033 198 194 -6
Nexbridge Technologies 3.500 06/2029 155 157 +1
Deep MM fair value model • 5-min refresh OAS in basis points
The Problem

A corporate bond that hasn't printed in three weeks still needs a price

IG desks manage books where half the positions have no recent trades. Dealers quote wide or not at all. Portfolio managers need marks. The only options have been stale last-trade or gut interpolation.

Deep MM resolves this with an AI model trained on the full market signal ecosystem: inter-dealer trade prints from TRACE, real-time dealer axis inventory, and cross-asset macro signals. When the screen is silent, Deep MM still has a number.

How It Works

Three signal families. One actionable fair value.

The Deep MM model ingests inter-dealer trade prints from TRACE, real-time dealer axis inventory, and cross-asset macro signals including CDS spreads, swap rates, and index composition. These converge into a single OAS fair value updated every five minutes.

Trade Prints TRACE data Dealer Axes inventory signals Macro Signals CDS, swaps, ETFs Deep MM AI Model Fair Value OAS per CUSIP every 5 minutes
Early Access Results

Covering more bonds. Pricing more accurately.

4,200+
CUSIP-days in beta coverage
12bp
Median fair-value error vs. actual prints (internal beta)
5 min
Maximum signal update interval
3
Asset classes: IG, HY, EM debt

"When a bond goes quiet for weeks, our current tools give us nothing but last trade plus a gut check. Deep MM gave us a number we could actually defend to risk."

Fixed income portfolio manager, mid-size asset manager (early-access program)

"The IG coverage depth is what surprised me. Not just the liquid names everyone can price, but the off-the-run stuff where we actually need help."

Head of IG trading, regional broker-dealer (beta cohort)

Coverage Universe

IG corporates. HY bonds. EM debt.

Investment Grade

USD-denominated IG corporates, financials and non-financials. Focus on off-the-run issues and names with low recent print frequency.

High Yield

USD HY single-name corporates including stressed credits. Model trained on HY-specific liquidity regime dynamics.

EM Corporate Debt

Hard-currency EM corporate bonds. Frontier market pricing where dealer axes are thinnest and fair value estimation matters most.

Research

Latest from Deep MM Research

Abstract visualization of bond pricing signal analysis for thinly traded investment grade bonds
Methodology

Why AI Prices Thinly Traded IG Bonds Better Than Last-Print Interpolation

Most investment grade bonds trade fewer than five times a week. We explain the signal architecture that lets our model produce a reliable fair value even when the screen has gone silent.

Read the research

Get pricing signals for your desk

Early access open for institutional desks. Request access and we will follow up within one business day.

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