Bears better watch out for QE. It's not if, it's just when at this point. We could already be in it (some signs) but the next step would be to admit it so they get a bump more quickly from the accelerating debasement of the currency. Either way, assets can't stay down that long when they really kick the debasement way way past emergency mode. We've already been in emergency mode since 2020. I don't know what you call levels above emergency stimulus mode, but that's where we're heading.

*note that one part of the QE strategy is to reduce yield on bonds not just to stimulate borrowing...because they want to force people out of bonds and farther into the risky equities side of the risk curve.  It's very possible this move down in yields is being assisted by QE. They get the cuts that way without actually cutting (the overnight rate they control is almost meaningless in terms of real business).