<p>I have not seen the page, but it is likely to either be the price change or part of the price of a $10$ year benchmark US Treasury bond (probably with a par value of $\$100$ and possibly with an nominal yield of $2.75\%$)</p>

<p>So either the price of this benchmark bond changed by $\$21/32= \$0.65625$ or the price was $\$98\; 21/32=\$98.65625$ </p>

<p>Why US markets use eighths or sixteenths or thirty-seconds of a dollar when they have perfectly usable tenths and twentieths and hundredths (i.e. dimes, nickels and cents) to price bonds is another question.  </p>

CC BY-SA 3.0
2018-02-15T22:32:34.717Z
That’s my guess as well. Never saw that format before.
Brian Romanchuk
CC BY-SA 3.0
2018-02-16T10:41:33.457Z
Thanks. By the way, how could you know the price was $98, not $99, $101?
RyanC
CC BY-SA 3.0
2018-02-16T14:13:46.577Z
You could back calculate it from 2.913% and 2.75% and 10 years, but in fact I actually looked at the current price.  I might be wrong
Henry
CC BY-SA 3.0
2018-02-15T22:29:48.900Z
2018-02-15T22:29:48.900Z
Henry
<p>As I see the WSJ front page, I saw 10-YR TREAS 21/32 yield 2.913%.
I know what the yield means but I don't know what the 21/32 means and how it relates to the yield. Could you please tell me?</p>

CC BY-SA 3.0
2018-03-18T03:33:38.490Z
I forget but several things determined a bond, the yield, the strike price. Also the time into the next coupon period. Determining if the bond is selling at a premium or discount. For exampke the actual interest of the coupon paid twice a year may be 1.4%. then to have the prescribed yield it must sell less than 100 dollars. If the bond was issued at 4% then it would sell at premium. So the yield is the markets current expectation for free interest. The risk free rate.
marshal craft
<finance>
Interpreting 10-YR TREAS 21/32 yield 2.913%
RyanC
# Interpreting 10-YR TREAS 21/32 yield 2.913%

(Asked by: username_0 on 2018-02-15)

As I see the WSJ front page, I saw 10-YR TREAS 21/32 yield 2.913%.
I know what the yield means but I don't know what the 21/32 means and how it relates to the yield. Could you please tell me?

**Tags:** finance

> **Comments:**
> **username_1**: I forget but several things determined a bond, the yield, the strike price. Also the time into the next coupon period. Determining if the bond is selling at a premium or discount. For exampke the actual interest of the coupon paid twice a year may be 1.4%. then to have the prescribed yield it must sell less than 100 dollars. If the bond was issued at 4% then it would sell at premium. So the yield is the markets current expectation for free interest. The risk free rate.  

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## 1 answers

### Answer by username_2 on 2018-02-15. Score: 0 | Accepted answer

I have not seen the page, but it is likely to either be the price change or part of the price of a $10$ year benchmark US Treasury bond (probably with a par value of $\$100$ and possibly with an nominal yield of $2.75\%$)

So either the price of this benchmark bond changed by $\$21/32= \$0.65625$ or the price was $\$98\; 21/32=\$98.65625$

Why US markets use eighths or sixteenths or thirty-seconds of a dollar when they have perfectly usable tenths and twentieths and hundredths (i.e. dimes, nickels and cents) to price bonds is another question.

> **Comments:**
> **username_3**: That’s my guess as well. Never saw that format before.  
> **username_0**: Thanks. By the way, how could you know the price was $98, not $99, $101?  
> **username_2**: You could back calculate it from 2.913% and 2.75% and 10 years, but in fact I actually looked at the current price.  I might be wrong  

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