"Yes sir, kiss that nice return you were getting on those long term notes goodbye!"How do you figure?
If you are long 10 year or 30 year paper, the coupon rate in effect when you purchased them has not nor will it change.
The income stays the same.
The yield may change for new buyers, but for someone who holds the bonds, the only 'detrimental'* thing that would change is the possible downward movement of the price
should they choose to sell.
The "nice return" is still there.
On edit to say, it appears the price of the 30 year was just bid up rather sharply today.
http://www.bloomberg.com/markets/rates-bonds/government-bonds/us/Which means, if you own those bonds and bought them ...say...oh.,...yesterday, you just made a few bucks overnight, should you choose to sell.
Edited again to add the *
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