FIXED-INCOME-BASICS5 MIN READ
Explain Clean Price and Accrued Interest
Explain clean price, accrued interest, and dirty price in a bond trade.
Controller C Finance controller Q Quote A Accrue R Reconcile The moment 20 sec Trade confirmation A bond quoted at 99.50 settles for more cash than the clean price suggests. If the analyst cannot explain accrued interest, normal settlement math looks like a pricing error. 99.50 clean quote $250K par amount
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