Ask about Bonds: why are Bond prices quoted in fractions of a point (32pts)?

When the bond is quoted 94-05 means 94 and 5/32 of par value. I don’t know why people used 32nds to quote bond? why not 5/100 pts for easy to calculate?

Could anybody help me? thank so much!

Its only for treasury bonds, so it does not apply to all bonds.

Yes, thank Pumpkin! But do you know why people used 32nds?

I believe it’s because the old ticker machines only had 32 symbols making each symbol (1/32) a tick.

sorry i dont know… thanks chad