to create a goldilocks scenario, bond yields have to range bound, if there is too much equity market jubilance bond yields will spike up with equities.
when your a debtor nation, financing the debt becomes a big problem, if the easy way is taken, just printing money, then inflation rears its ugly head, inflation is pretty tame still. To keep the world and markets in malaise will foster continued debt financing, if things runaway, then financing the debt becomes tougher and tougher.
americans wont alter their spending habits till true shock becomes evident, so american cashflow stays as status quo, and the dollar continues to erode further.
edit: it should read the 'perception of inflation'. A proxy is the bond market.