> ## Knowledge Base Index
> Fetch the complete knowledge base index at: https://biasinvestors.crisp.help/sitemap.xml
> Use this file to discover available pages before exploring further.
> Pure-Markdown content can be obtained by appending a '.md' suffix to the content URLs listed in the sitemap (without the trailing slash).

# Flat

A term that refers to bonds that are traded without accrued interest. Bonds that are in default, income bonds, and zero-coupon bonds are usually traded flat. All other bonds usually trade with interest, where the buyer pays to the seller the market price plus interest accrued since the last payment date. See also: Accrued Interest.