Why Are Treasury Yields Falling?

A reader writes in with this classic parable:

The long list of reasons by pundits explaining the drop in Treasury yields reminded me of an old Wall Street joke:

Over dinner following a hectic day in the market, the wife of this well-known pundit / stock-picker asks, “Darling, what’s wrong with the stock market?

His reply: “Sweetheart, it has to do with China sinking a Vietnamese fishing boat, the volcanic eruption in Indonesia, the lasts Egyptian election…

Before he had a chance to go any further, she slams her hand on the table and says, “Darling, if you don’t know what’s wrong with the stock market, why don’t you say so!

If anyone has a better answer, I am all ears . . .

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