Bards have more tools then monks for pulling though monks also do have good tools.
In an outdoor zone Bards ahve selos which is a big edge over teh run 8 that both monks and bards ahve.
Bards fade, monks feighn (and imitrate death). While this is an advantage for the bard it does use mana, on the monk side unless we want to stay down 2 min (or pop and drop and hope for luck) we need to use imitate death to clear aggro which with AA is currently 6 min use.
Monks have a sinlge target lull lasts 2 ticks castable every 20 seconds (which costs end) bards can lull multiple targets before lull wears off. Differnce is that monk lull never fails if the mob can be lulled. However at least to me the multple lull is an advantge.
Monks have an AE mez if they are not on aggro. This is a very useful pulling tool, and allows us to sometimes make up for our inabilty to lull multiple mobs. It is also an Endurance hog. And no it can not effectively be used in camp since if the monk has aggro on any mob it will not work. Bards also can mez multiple mobs in camp so to me advantage bards.
Bards have a few more tools for pulling their lull/mez/snare/speed/fade outweigh the monks tricks, however if you are not concerned about speed either can pull off some amazing tricks.
For a raid, either can pull, with the raiding force I am with currently, monks usually pull, though bards sometimes do. This is however because monk/bard class leader is a monk and prefers monks to pulling. Eitehr class is quite capable of it.
Bards however IMHO tend to be rarer and can bring more to a raid via resist songs, overhaste etc.
Oh and on one last random note. Bioluminescent Orb usually lands in Frostcrypt raids which can make splitting easier