Pull up a 1 month comparative chart of SPY and TLT. Look at the near perfect negative correlation between the two over the last four weeks. TLT goes down, SPY goes up. TLT goes up, SPY goes down. TLT goes down a lot, SPY goes up a lot. Who would of thunk? Now the question of why people recently decided that they didn't want to hold US Govt debt is beyond me. Perhaps it was on Zerohedge and I missed it.