DEFINITION of 'Market Discount'. The difference between a bond's stated redemption price and its purchase price on the secondary market, if it has been purchased at a price below par. Market discount arises when a bond's value on the secondary market decreases after it has been issued, usually because of an increase in interest rates.
A chalazion is a small bump in the eyelid caused by a blockage of a tiny oil gland. A chalazion is caused by a blocked duct in one of the meibomian glands. These glands are located in the eyelid directly behind the eyelashes. They produce a thin, oily fluid that lubricates the eye.
A chalazion is sometimes the aftereffect of a sty. It is less tender but lasts longer. Natural oils from the eyelid's oil glands must drain through ducts out to the eyelashes. If debris blocks this normal drainage, it may cause a sty or chalazion. Sometimes, this debris accumulates because of a condition called blepharitis, a long-standing inflammation of the edges of the eyelids, with redness, thickening and scales and crusts.