The recent action in the markets suggests that the turn may finally be behind us. Why have bond prices been falling for the past three months, despite an assumed promise by the Fed to provide unlimited amounts of liquidity? Why has a ton of Chinese and other foreign buyers failed to propel prices to new highs? Is it possible that the fat lady is at last singing in the Treasury bond market? Instead of driving bond prices higher, the true net effect of QE2 could be merely to slow their descent. In November, 99 consecutive weeks of bonds fund inflows came to an abrupt halt, and have seen only outflows since.