[lordfrito]

> But that's if you were trying to sell it now. The amount it will pay at maturity remains unchanged and in 10 years

This point is lost on everyone. They will get their money back, in 10 years. That's why it's a called 10 year note.

They messed up not considering they'd need the money sooner, and failed to seriously consider that no one would want to buy their notes if interest rates went up, because there would be much better deals out there.

They made a 10 year bet that interest rates wouldn't go up significantly. They bet wrong.

[shagie]

A Planet Money episode on bonds as turtles and the impact of changing rates. https://www.npr.org/2022/10/06/1127357539/why-are-stocks-and...

Note that Planet Money is intended more for accessibility and entertainment than hard hitting economic news... but they still get their facts right.