I enjoyed reading your post here. It has been over a year since you wrote it and the yields have hit new lows. The world is still factoring in the BOJ/ECB/BOE stimulus programs to no avail. Did you think a buyer of bonds, at any price, would end up not getting filled? The BOE just had that happened at one of their auctions they showed up at ready to buy at any price. The world is structurally fractured and it’s a blend of historic events. We have components of the last ten crisis taking place, right in front of us, and our fed keeps perpetuating the dilemma.
Thanks for sharing and if you could, tell me what you think of my article!