An article in the Wall Street Journal begins: “Yields on the 10-year government debt of Germany and the U.K. fell to all-time lows, a stark demonstration of the modern era of scant inflation, weak growth and outsize monetary policy.” Discuss the effect on the equilibrium interest rate in the bond market of each of the three factors the article lists. Illustrate your answer with a graph of the bond market. Make sure your graph shows any shifts in the demand curve or supply curve for bonds as a result of these factors and any change in the equilibrium price of bonds.