Total EFTA01477396 Global Fixed Income Combing the Field for Yield Powerful Flows to U.S. 1,000 200 400 600 800 -800 -600 -400 -200 0 Mar-2009 Mar-2010 Mar-2011 Mar-2012 Mar-2013 Mar-2014 Mar-2015 United States Euro Area Japan Net U.S. Treasury Issuance — Given the superior yield and so