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Quotes for corporate and government bonds are represented either by a percentage of the bond's face value or as a dollar value. Corporate bonds are quoted in 1/8th increments, so a quote of 99 1/8 represents 99.125% of par ($1,000), or $991.25. Government bonds are typically quoted in 1/32nds. Municipal bonds may be quoted on a dollar basis or on a yield-to-maturity basis.
Read more: Bond Quote Definition | Investopedia http://www.investopedia.com/terms/b/bondquote.asp#ixzz3nx4vMpgH
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