Thank you for that well thought out explanation. That makes good sense.
There is one case I'm not clear about. What if I buy a T-Note at market which has an accrued amount and sell it before the first interest payment? There will be no interest to deduct from except what accrued the buyer pays me which may be less then my original accrued amount. I have this situation on one T-Note I sold after 2 months to take advantage of a good buy in on 10 year Treasury. Thanks again for any help you can give me.
