Consider that most of the time from 2010 to 2021 was akin to yield curve control because the Fed held the policy rate at the zero lower bound for most of it while suppressing the long end via large scale asset purchases (QE). The end of that era also marked the end of a multi decade bond bull market. Not unlike the 1940s, which saw the end of WW2 and lifting of price controls presage the end of a multi decade bond bull market and the start of a multi decade bond *bear* market. Everyone keeps waiting for the modern YCC, but maybe that's what we just got done doing. Just a random thought I had.(𝐓𝐗𝐌𝐂)