There is a lot of things going on in bonds now. Given the veracious desire for yield, the yield spread between high quality bonds and junk bonds has narrowed significantly since the 2009 debacle.
Have you ever heard about a concert where there is some disastrous event and everyone was trying to get out via limited exit space? People get hurt and trampled. Before the disaster, everyone is complacent until the moment of disaster and then it is a mad dash.
