Pssst! Interest rates are rising in spite of QE II

"The whole point of quantitative easing, in a sense, is to keep interest rates low (by keeping bond prices propped up). Low rates mean lower borrowing costs for businesses and consumers... lower rates of return on savings instruments... and, overall, more "risk appetite" from speculators and investors on the whole."

"So it is surely perplexing to the Fed that, after their big QE2 bond-buying program was unveiled, bonds went down... and rates shot up in the wrong direction!"

An Ominous Rise in Interest Rates -- What Could It Mean?