How is "Quantitive Easing" going?

[girl gone mad]

Predictably, not so well.

From http://market-ticker.org/archives/1002-Oh-Beeeeen-10y-Ts.html">Denninger:

I believe Bernanke knows he's trapped; his latest action today, instead of suppressing yields and spiking prices did the exact opposite, nailing /ZN futures immediately on the announcement and driving yields higher.

While the move today is not huge (thus far) it is significant in that the rate of change has markedly accelerated the last few days.

All the King's Horses and all the King's Men cannot play with the credit markets for very long. Oh sure, you can distort things - for a while - but even a sovereign can't do jack when the outstanding debt in question measures $53 trillion odd dollars (total private and public) and you're piddling around with a trillion or two.