• Dealers in government bonds normally give price quotes in 32nds. To quote a bid or offer in 64ths, they use pluses; a dealer who bids 4+ is bidding the handle plus 4/32 + 1/64, which equals the handle plus 9/64.

• Dealers in governments normally quote bids and offers in 32nds. To quote a bid or offer in 64ths, they use pluses; for example, a dealer who bids 4+ is bidding the handle plus 4/32 + 1/64, which equals the handle plus 9/64.

 Embedded terms in definition
Government bond
T bond
 Referenced Terms
 Accrued interest: Is the amount of interest which has accumulated since the last coupon interest payment. It is the amount of interest which the holder is entitled but is not due until the payment date. The buyer pays the seller of the bond the accrued interest.The accumulated coupon interest earned but not yet paid to the seller of a bond by the buyer (unless the bond is in default).Interest due from issue or from the last coupon date to the present on an interest-bearing security. The buyer of the security pays the quoted dollar price Plus accrued interest.

 Adjusted present value: Abbreviated APV. The net present value analysis of an asset if financed solely by equity (present value of un-levered cash flows), Plus the present value of any financing decisions (levered cashflows). In other words, the various tax shields provided by the deductibility of interest and the benefits of other investment tax credits are calculated separately. This analysis is often used for highly leveragedtransactions such as a leverage buy-out.

 After tax: Describes funds on which an employee has already paid all income taxes, for example, amounts held outside a 401(k) plan or traditional IRA, or within a Roth IRA. Taxes on benefits derived from these funds, Plus investment earnings in a Roth IRA, are not payable when they are received. See basis. Also known as post-tax.

 All in cost: Total costs, explicit and implicit.Total costs, explicit and other. Example: The all-in cost to a bank of CD money is the explicit rate of interest it pays on that deposit Plus the FDIC premium it must pay on the deposit plus the hidden cost it incurs because it must hold some portion of that deposit in a non-interest-bearing reserve account at the Fed.

 Annual percentage yield: Abbreviated APY. The effective, or true, annual rate of return. The APY is the rate actually earned or paid in one year, taking into account the affect of compounding. The APY is calculated by taking one Plus the periodic rate and raising it to the number of periods in a year. For example, a 1% per month rate has an APY of 12.68% (1.01^12).

 Related Terms
 T+1 or t plus 1
T+n or t plus n
Zero plus tick

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