The Importance of Sentiment Positioning

I don't see us getting down to a zero interest rate policy again unless, you know, there's the kind of disaster in markets which none of us are ready for right now. The entire sort of long end of the treasury curve has been underpinned by Fed buying and QE since the GFC. Who else helps them out there when they've got to absorb $700 billion worth of coupon supply between now and Christmas? I have to wonder who's going to be queuing up to buy US government debt for 10 years at 4%.