[Antoninus]

Whoever, whether domestic or foreign, owns ten-year treasuries is LOSING MONEY.

Given that a large number of Americans buy treasuries, those folks will benefit from treasuries having a higher yield if they purchase them now, particularly if interest rates fall in the near future.

And the holder of older instruments would not be "losing money". If they hold the treasury to maturity, they will get the full face value, plus all promised interest payments. Any "losses" are on paper only or if the holder decides to try to sell before maturity.

[Miami Rebel]

That’s like saying “The stock market just crashed! That’s GREAT news for investors (who are already fully invested.)”

You’ve got one thing right:

The holders of already issued debt are down on their investments. New debt carries higher coupons, which they can’t buy without selling their existing positions. So the new, higher coupons do them no good.

And, of course, there’s the matter of hundreds of billions of flexible-rate debt that has just become more expensive for consumers, corporations, and home and car buyers.