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1. In bonds, 0.0625% of one point. This is used when quoting bond prices. For example, a bond may have the price of 95 3/16 points, meaning that the bond is selling for 95.1875% of its par value.

2. In stocks, 0.0625% of one dollar. This format was used when stocks were quoted in fractions instead of decimals. It is less common today.
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One sixteenth of a point. For bond quotes, a sixteenth represents 1/16 of 1%. Thus, a bond quoted at 98 1/16 would indicate a price of 98 1/16 % of par, or $980.62.
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.
References in classic literature ?
That wasn't the way I started, young man; when I was sixteen, my jacket smelt of tar, and I wasn't afraid of handling cheeses.
Round of sixteen 2 Winner18:00Round of sixteen 1 Winner
QUETTA -- At least sixteen people of the same family were injured when a vehicle overturned on National Highway near Baghbana area of Khuzdar district on Wednesday.
Sixteen Commodores of Pakistan Navy were awarded with Sitara-e-Imtiaz (Military) while sixteen officers of Pakistan Navy were given Tamgha-e-Imtiaz (Military).
Sixteen commodores of the maritime force were awarded the Sitara-e-Imtiaz (Military) while sixteen other officers were given Tamgha-e-Imtiaz (Military).
Jessarwala-Daska based Shakir alias Ilyas was arrested by Indian Border Security Forces (BSF) for illegally entering Indian territory in 2003 (sixteen years ago).
Auguste Corteau; SIXTEEN; Etruscan Press (Fiction: Historical) 16.95 ISBN: 9780998750842
029 2063 6464 MUSIC The Sixteen at Christmas The Sixteen's annual Christmas programme brings carols and seasonal choral music to Cardiff.
ONE of the most perfect choral groups working today and described by The Times as a 'tiny soundbite of heaven', The Sixteen returns to the Welsh capital for a fascinating Christmas programme that reflects on themes of innocence and danger.
Karachi -- Muhammad Wasey scored the lone goal of the match as Sixteen Star Academy overpowered Muslim School by 1-0 score in Leisure Leagues School and Academy Championship here at Sixteen Star Ground.
November: 4th Rose Bowl; 11th Rose Bowl Final; 18th Sixteen; 25th Sixteen.