With 10-year U.S. Treasury yields breaking through 2.5 percent, the question many investors are asking (not for the first time) is whether this is the end of the bull run for fixed income.
Fixed-income heavyweights are also wading into the discussion with investors such as Bill Gross suggesting the bond bear market is indeed here.
While the 10-year note has still not breached March 2017 levels, it's worth cautioning that once it hit 2.6 percent last year, contrary to expectations at the time, it then started a downward trend almost breaching 2 percent back in September before easing up towards the end of the year.
This, as the two-year yield rose to levels not reached since 2008 as the Federal Reserve continued with its hiking cycle, telegraphing more to come.
So what's different this time? Fixed-income specialists point the recent sell-off to multiple factors: