NanoViricides Inc. (NNVC)

[JG36]

I think you're the one missing the big picture.

First, keep in mind that by historical standards interest rates are still very low. The recent increase in rates simply brings them back to where they were in 2011, and they were low then.

The immediate effect of the 2008 crash was a huge increase in demand for treasury bonds, as investors fled every other asset and bought treasury bonds. This would have caused a huge spike in the bond prices (and very low yields) except that the Fed at that time sold a lot of bonds into the market. (Despite this there were times during the panic when people bought treasury bonds at a negative yield.) But a longer term consequence has been a huge increase in the federal deficit. The $400 billion a year deficits of the Bush years turned into $800 billion a year deficits during the Obama years. The doubling in the value of new treasury bonds sold each year would have caused bond prices to collapse (and yields to rise substantially), particularly as the panic subsided and people sold bonds to move into other assets. The fact that this didn't happen is due to the massive fed purchases of bonds since the crash.