Stocks are sailing higher as Brexit worries fade, but the global bond market is signaling that there's plenty to fear.
Bonds have been on fire globally, as investors rush to snap up safety, particularly at the long end, and that is sending yields to new lows — and some yields even into the black hole of negative rates. The U.S. 30-year Treasury bond is closing in on its all-time low yield of 2.223 percent.
"I think people are hunkering down and buying bonds because of the uncertainty in the world. They want to be able to sleep at night," and Andrew Brenner, head of international fixed income at National Alliance. Brenner said in the U.S., 20-year corporates and 30-year Treasurys were the hot spots in Wednesday's market.