Bond Trading - Is There a Benefit to Holding for 20 Years?

Two year bonds right now ar yielding something like two ish %. Two point eight three % on a two year bond, exactly right? So you're locked in for 20 years to get three point five %. The way the yield curve is roughly priced is everything that bond traders know about the market and what they're trying to price in. There's actually no benefit to buying the 20 year versus the one year and then rolling it over every one year. In theory, if you just kept rolling over bonds, you should get, roughly, in the long term, about that same interest.