In the Treasury space, prices are quoted in 32nds, as a XXX-YY, where XXX is the whole number of the fraction and YY is the numerator of the fraction over 32. For example a price of 112-10 is equal to 112 + 10/32 in decimals while a price of 112-10+ is equal to 112 + 10.5/32, with the plus sign referring to 1/2.
- Chapter 2: Bonds
- from Interest Rate Markets: A Practical Approach to Fixed Income
- Publisher: John Wiley & Sons
- Released: April 2011
price format in bonds
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