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America has the world's largest economy and the world's largest bond market, and yet, has higher yields than any of the developed EU countries.
The reason for all of this sprang out of the financial crisis of 2008/2009, and it has sprung every year since, as the world's central banks took control and dominated the bond markets.
It has been a godsend for the governments they represent, and it has been a nightmare for investors looking for yield and cash flows.