Zero Hedge passed on an analysis done by Nomura that maps the US trajectory onto the Japanese experience. Nomura certainly thinks we are on the same (futile) path. Of personal interest;
… even if we only see half of the sort of government bond buying behavior that occurred in Japan, we can expect US domestic accounts to acquire large amounts of UST debt in the years ahead.
Even a small convergence to the Japanese multi-year government bond buying trend by US investors will result in sizeable amount of UST buying.
Talking my book? Yup.
Financial Reality 