Policy, of course, refers to the actions taken by the ECB (and possibly the Fed) to crank back up the monetary stimulus.
Production refers to the quality of the data, which is no longer surprising to the downside. Weak data is no longer failing to incite treasury buying, as it did not longer ago.
Positioning refers to the fact that investors have been caught on the wrong side of this risk trade. Numerous investors have missed this rally.
And it's for this last point that there seems to be a desire to want to hear that this can go on longer.
All the big analysts are being asked this how much longer question, and they're generally answering that it can go a bit higher.