A couple overlooked facts

1) US10Y started 2020 at 1.875% and is quickly closing in at 2.25%. The Fed's barely started raising rates, if you want to see what they're likely to do look no further than the end of Q3 2018. 

2) Russian OFZ 10Y was showing 20% pre mkt, and is trading at 13% atm. The only thing keeping it from spiraling even more out of control is the CBR. 

3) China/US 10Y spreads are closing down 

4) Germany's PPI running over 25%/year, for reference, it's the highest it's been since 1949 (when they started to use the measure). 

5) Some retail loser piled $2 billion into $TLT last week