Im fine with your terminology and reference. The current date (or that of reporting) can be the reference time for a real dollar valuation.

I fully understand how bond market prices are impacted by interest rates. What most people seem ignorant of is the fact that bonds are not simply market trades asset, but are also have a value at maturity. Most people don't seem to know that HTM assets are reported separate from securities available for sale, which ARE tracked at market value.

And then there's the even stupider idea that the value of long-term assets should be listed as the maturation date npv, as if you can just look up future inflation rates for the next 10 to 30 years.

It seems obvious to me that if you never intend to sell a bond, the maturity value is a measure of interest.

Do you have anything else to add to the discussion, or was that your only point?