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Discount bond is a type of bond that is issued and sold for less than its face or par value. It can also refer to a bond that is currently traded for less than it is worth in the secondary market. Similar to zero-coupon bonds, although discount bonds also have an interest payment.
Envelope is a technical indicator that is plotted over a price with upper and lower bounds. Commonly envelope can be seen as a moving average that is presented in a form of two moving averages which in their turn define upper and lower price range levels.