Bond Quotes vs. Final Cash Invoice Explained
https://youtu.be/ucWq83uh0dg
A bond quote of ninety eight is not the final cash invoice #Bonds #...
A bond quote is not automatically the final cash invoice. Consider a hypothetical coupon bond quoted at ninety eight per hundred of face value. You buy ten thousand dollars of face value. The quoted principal amount is nine thousand eight hundred dollars, not ninety eight dollars. Suppose the trade confirmation separately states one hundred twen...
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