Bond Glossary

The mysmp.com bond glossary category contains definition articles related to the bonds market.

Accrued interest is the amount of interest that a bond has earned since its last coupon payment.
The term Basis Point (bp) was created to account for fractional changes in bond yields. Since large institutional bond traders can make or lose hundreds of thousands of dollars on fractional moves in interest rates, they divide each percentage point by 100 to gain a more granular level of analysis.
The consumer price index, aka. CPI, is the key gauge for inflation; it measures price increases and decreases on common group of consumer goods and services on a monthly basis.
Conversion ratio refers to the number of shares of common stock that could be realized by an investor at varying points along the life of a convertible security. To determine the conversion ratio of a bond, the basic conversion ration formula requires that investors know the current par value of the security to be converted and the conversion price of equity for the transaction.
COFI is an annualized ratio of monthly interest expenses in proportion to the total funds on hand.
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