... coupon rate C/2 and the same maturity date but traded at a discount. A long position with two C/2 coupon bonds and a short with one C coupon bond will result in no coupon income and hence, no ... 114,626 bonds and 2,149,008 trades. We also eliminate bonds that carry variable rates or irregular coupons. This restriction removes 185 bonds and 2,500 transactions. To focus on bonds that ... of a bond when it was issued, the issue size and type (e.g., general obligation or revenue bonds), whether the bond is callable or contains a sinking fund provision, and whether the bond is...