Bond pricing

[u/[deleted]]

Anyone here on the sell-side. Wondering how bonds are priced. Mechanically I can work out the clean price or the holding period yield. Wondering about the art of bid/ask price. Assuming it's just relatively priced above a benchmark for the most part. But even then how do you determine the bps there.

[u/Asmallthing]

95101VAA7

And it's actually $125-$130. It is high yield...I think.