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On June 5, 2020, you purchase a $10,000 T-note that matures on March 15, 2031 (settlement occurs two days after purchase, so you receive actual
On June 5, 2020, you purchase a $10,000 T-note that matures on March 15, 2031 (settlement occurs two days after purchase, so you receive actual ownership of the bond on October 7, 2019). The coupon rate on the T-note is 7.72% percent and the current price quoted on the bond is 104.5 percent. The last coupon payment occurred on Feb 21, 2020 (91 days before settlement), and the next coupon payment will be paid on September 15, 2019 (91 days from settlement).
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