Replacing US treasuries by EU treasuries

In March 2012, the U.S. government bond yields shot up, meaning that people are selling U.S. government bonds. So where did they place that money?

Investors have transferred that money to Eurozone treasuries because a looming default has been averted by the ECB. The ECB printed a trillion euros in a few months time to help Greece, Italy and Spain. This stabilized the Eurozone government debt securities so investors are now more keen to shift their money into Eurozone debt.

To see my analysis, go here: Traders converting U.S. bonds into Eurozone bonds