Deep discount bond note: bond with relatively low-coupon rate of interest offered with a discount in excess of what can normally be treated as capital gain by the investor.

按较大折扣发行的债券，大幅折价债券：这类债券通常利率较低，发行时的折扣率超过投资者一般所认为的资本收益。

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Just like the pain experienced by conservative coupon-clipping bond investors, money is barely earning any interest, due to a low rate environment.

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