The US Treasury recently unloaded a bunch of 10-year debt with a yield of 1.9%, selling into demand for these anemic 10-year puppies that was the third highest on record. The official inflation rate--assuming anyone out there still believes that--is now actually higher that the 1.9% yield investors are scrambling to get.
This is the old boiling-the-frog method of a slow capital death. It's the just-give-me-back-my-money-and-forget-about-any-returns mantra of the times. Maybe it's time to consider taking the other side of that trade and ramping up for unexpected higher interest rates down the road? Sooner or later overdone gets undone.
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