TeachMeFinance.com - explain Ex-interest
Ex-interest -- Without interest or not including interest.
Registered bonds sell ex-interest the same as stocks sell exdividend
when the books are closed (see Books closed). If
a registered bond , say a 4 per cent bond with the interest payable
semi-annually, is selling at 98 while a coupon bond of the
same issue is selling at 100 it is because interest goes with
the coupon bond while it does not go with the registered bond.
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