[JackFr]

> The market for bonds reflects the current inflation and interest conditions.

To say that the bond market "reflects current interest conditions" is like saying the stock market reflects current stock prices.

A dollar today is not the same as a dollar a year from now, which is also not the same as a dollar two years from now, and thus they have different prices.

I don't disagree with your conclusion. This is a technique for matching asset & liability timing (not really a market strategy), more suited to the corporate treasury than the retail investor.