You see, if Treasury interest rates rise, the value of existing treasuries from a lower interest rate fall. If you have to wait 20 years to get whole on the dea

You see, if Treasury interest rates rise, the value of existing treasuries from a lower interest rate fall. If you have to wait 20 years to get whole on the deal then it's effectively illiquid. But if you have to liquidate, then you must lose prinicple. Its a problem ongoing right now in the bond market.