CALENDAR
Modified Preceding
Moves backward unless that crosses into the previous month, then moves forward.
Market use
A less common but important date-adjustment rule.
What it means
Moves backward unless that crosses into the previous month, then moves forward.
Example
Month boundaries determine which direction is used.
How to interpret it
This concept should be read together with its market convention, measurement horizon and underlying instrument. BondStats presents it as an analytical reference rather than investment advice; instrument documentation and primary market rules remain authoritative.
Related Conventions
BondStats reference content is independently written. Mathematical relationships, abbreviations and market conventions are presented for educational and analytical use.