In addition to propping up equities it would appear that the PPT is now also responsible for keeping Treasury yields low. Long gone are the days the Plunge Protect Team (PPT) would intervene only during a market crashes. Now all banks (and other entities) which benefited from QE 1&2 act as proxies for the PPT's open market operations. Have you ever seen more pathetically manipulated price action in the last two days? They aren't even trying to hide it anymore. Might as well go long 2012, unless the powers that be decide it's time for a generic republican.