**"Japan’s 10-year yield just hit 0.9%—a level last seen in 2015—while the BoJ’s bond-buying program is under *visible* strain. If the land of ‘yield control’ can’t even keep its own rates stable, what’s next for the rest of the world’s ‘risk-free’ rate anchors?**

Your framing of bond markets as a ‘voting mechanism’ is sharp—so, who’s actually *holding* the ballots? The Fed’s balance sheet? Algo funds? Or just the collective sigh of central bankers watching their mandates crumble?