When the FED is buying US bonds through QE2 they push the other bond-buyers into buying other things, instead of the bonds the would have bought, had the FED no

When the FED is buying US bonds through QE2 they push the other bond-buyers into buying other things, instead of the bonds the would have bought, had the FED not distorted the market. This pushes prices up for other asset classes. There's excess liquidity desperately looking for ROI. The money has to go somewhere.