Jack seems to be speaking of interest rate riskAnd reinvestment risk. It may be picking at nits but I see this a different then interest rate risk or at least subset of the issue. One the problems we run into is all the coupons would arrive at the same time and the principal will mature at the same time. If our intent is to remain as fully invested as possible then we are restricted by these due dates as to what we can do with the money. jack
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