[patience]

jbrovont said: "My understanding is that the Fed has already admitted to buying roughly half of the US Ts auctioned lately, so we're already a ways down this road."

Yep, that's what I read, too. There may be a few more tricks up the Fed's sleeve, but It looks to me like we are close now on the bond thing. Nobody wants long term bonds, and I expect they will work their way down to shorter term bonds soon, When the Fed has to buy the 5 year bonds, it's about over, IMHO.