This is all part of the massive manipulation that has been occurring over the last four or five years. Remember the saying, 'There is nothing to fear but fear itself.' The Central Banks figured this out early and suppressed risk across all asset classes, and in so doing orchestrated the mother of all short squeezes. The problem now is the can has been kicked, but there is no economic activity to support the propped prices. I still believe the leverage/repos in the long dated global bond markets will rule the roost. No one will want to own anything longer than 10 years (probably 5-7) because the currency risk is too great. As the unwind occurs, and I believe it has started, there will be nothing the central banks can do to arrest it. The leverage is too great and the margin calls will be massive. The real estate market ‘looks good’ because it has been gamed, but few can afford a house, let alone rent one.