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A bad man, though raised to honour, always returns to his natural course, as a dog?s tail, though warmed by the fire and rubbed with oil, retains its form
A discount margin (DM) is the average expected return of a floating-rate security (typically a bond) that’s earned in addition to the index underlying, or reference rate of, the security. The size of the discount margin depends on the price of the floating- or variable-rate security. The return of floating-rate securities changes over time, so the discount margin is an estimate based on the security’s expected pattern between issue and maturity.
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