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0
Q: 

what is the relationship between COUPDAYSNC and COUPNCD

In Excel, COUPNCD returns the date of the next coupon

and

COUPDAYSNC returns the number of days until the next coupon.

However, COUPNCD(settlement, maturity, freq, basis) - settlement is not always equal to

COUPDAYSNC (settlement, maturity, freq, basis)

Why is this?

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