No. of Recommendations: 4
Just a heads up on paying interest when you buy a bond on the secondary market:

If a bond pays interest twice a year, in january and july for example, and you buy that bond in june, you're gonna pay the seller the selling price for the bond...and commission...AND the interest that the bond has earned between January and June.

Of course, then in July, you'll collect the full bi-annual interest payment due in July...just as if you've held the bond since January.

Hope I did not repeat anyone else's response above, I just sort of skimmed through them. My aplogies if I did. (dealing with a nasty cold right now, reffed some games in the rain and cold last few days, paying cosequences. But gives a good excuse to stay inside and watch premier league games for the week end. :)
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