patrick.net

sbh says

Just seat of the pants observation of the nation: the boomers have the money and their appetite for risk is shrinking as they age. Treasuries pay a pittance but they are safe and liquid and look good if deflation persists or increases. The wealthy spread risk capital across the spectrum, and if they have lavish life style costs they need cash. Treasuries act as cash. I think the 1% own a shitload of them. JMO. I own a shitload.

Yep. The government bond bubble may still have a ways to go. Watch out for cracks in the corporate bond market though.

Not investment advice.