Even the 10 year Treasury at a yield of 1.50% or 1.85% or 2% looks to be a bubble since the Fed itself is acquiring two-thirds of the newly marketed government debt alongside accumulation from pension funds, insurance companies, clearing houses and family offices.

FORBES: Everybody is Furiously Looking for Bubbles

For instance, evidence in the options market suggests some hedge funds may be in the early stages of accumulation again.

FORBES: Carving Out A Bull-Market Bottom