Series 52: 2.3.3. Clean And Dirty Prices

2.3.3.  Clean and Dirty Prices

Bonds can be quoted at a flat price, also called a clean price, which means accrued interest (interest that has been earned but not yet paid out) is not factored into the quote. Bonds can also be traded at the dirty price, which includes accrued interest. Clean prices are more stable, and when they change, they do so for some economic reason