Interest rates on Treasurys are bound to go up someday, right? Don't be so sure. The bond...

|By:, SA News Editor

Interest rates on Treasurys are bound to go up someday, right? Don't be so sure. The bond vigilantes have been tamed, and observers note that private holders have been largely replaced by "uneconomic" buyers who will hold bonds at any price: "The single biggest mistake that smart people have made over the past few years is assuming that interest rates have to go up."