it's not just yurp. China just hit a three year high trade surplus. What do they do with that money? Buy more treasuries. And remember, they buy direct from the treasury, not thru a broker/dealer. Only foreign country i am aware of that can do that. Also, with the recession still here, what do pension and insurance companies do? Buy more treasuries. I keep looking for a bottom as far as rates, but the demand is just too strong. And stay strong as yurp slips into the abyss.