[Toddsterpatriot]

I think we've discovered a balance between the market's expectations of the Fed's willingness to do QE and the Fed's actual willingness and power to do it.

Yes, the Fed's power is limited. I'm glad you finally understand.

[palmer]

Yes, the Fed's power is limited. I'm glad you finally understand.

I'm glad I understand too. The Fed could not have created a TBill bubble because their power is limited. The current low rates are mostly an expression of market doubts about recovery along with some influence from the Fed's QE. Oops, did I say doubts about recovery? I meant silly speculation by people who think the Fed has more power than it really has. No wait! That's a bubble! It's the market expressing the fact that 3.64% is a mighty fine rate to get for the next 10 years from such a fiscally responsible country as ours. Yeah, that's the ticket!