Rates are currently at a historic low globally, so there really is no wiggle room for them to drop meaningfully lower.
There is a serious debt problem in the developed world, fuelled by low interest rates. Investors now understand this and are dumping government bonds which are IMO the biggest bubble market in the world.
Dumping bonds = Higher Yields = Higher interest rates are coming very shortly.
Check the LIBOR chart for clarity, or any 10yr bond Government Chart.
