After the sell-off, now the bond-buying panic! China is also taking advantage of the environment of increased liquidity and firing billions of new debt into the government debt market, so far without any major problems (until markets snap back and kill the euphoria). The current tranche is expected to have a volume of USD 139 billion! Nevertheless, interest rates on ten-year bonds recently fell to 2.3% and investors around the world are fighting over government bonds with supposedly good credit ratings. If that doesn't end badly in a world in which the debt of the United States alone has just passed the USD 34 trillion mark with ease. Globally, government debt is at absolutely staggering levels and only a few of the larger countries are not drowning in debt after the first attempt to inflate it away seems to have failed (don't worry, the gang of thieves is unlikely to back down). Ironically, Russia of all countries is one of the most fiscally sound, while the European Union is frantically looking for new debt opportunities (war bonds/Eurobonds).