Fed Buying Is Having Profound Implications. Bond Vigilantes Have Been Selling Heavily and May Continue. That Means We Still We Won't See Much of an Impact on Interest Rates. Paul Santos at Seeking Alpha claims you don't need to worry about the bond vigilantes anymore.  I, personally, have always been a big fan, and think they will return.  But hey: This is Mr. Santos' opinion piece, not mine, so I'll let hi ...