fed has started opening up the balance sheet to 2yr treasury notes again after failing at the first round of quantitative tightening. they say that this isnt more quantitative easing, who are they trying to fool? the s&p now offers better yields than government debt, how can this be sustainable? are we coming to the end of the 40 year bond rally? i feel that we havent got much time left. the implosion of the bond market will trigger the next great depression.