eighth

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Eighth

One eighth of a point or dollar. Prior to the decimalization of quotes, one might find a quote for so many eighths of a dollar. See also: Drill bit.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

eighth

One eighth of a point. With bond quotes, an eighth represents 1/8 of a percent. For example, a quote of $90 1/8 indicates 90 1/8 % of par, or usually, $901.25 per bond.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.