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 results from the obstruction of the eyelid oil gland. The blockage of the gland's duct at the eyelid margin results in release of the contents of the gland into the surrounding eyelid soft tissue. For the first few days, a chalazion can cause severe discomfort. Occasionally, chalazia become infected.