Having boughs; bearing branches, as in 'a well-boughed tree.'
From 'bough' (a tree branch) plus the suffix '-ed' to indicate possession of that quality. 'Bough' comes from Old English 'bog,' related to German 'Baum' (tree).
The past-tense-looking '-ed' suffix isn't always about time—here it means 'having' or 'furnished with,' which is why you can say 'well-boughed' (having many nice branches) just like you'd say 'broad-shouldered' (having broad shoulders).
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