US Treasury bonds are perhaps a key asset to watch these days, largely because the enormity of the market can cause it to have an impact on other markets provided there is a large flow into or out of Treasuries -- and because the decision of the US Federal Reserve to taper may result in just this kind of flow out of Treasuries.
But thus far, the Treasury market seems to be holding up strong. See TLT, an ETF tracking 20+ year Treasury bonds. Has it bottomed? The chart below illustrates my take.
Also worth noting is that Treasuries are now neck and neck with gold in terms of percentage gain year to date, making them one of best performing asset classes of 2014 thus far.