First rule of any money management “never go long in bonds”. Some things never change. People still buy it though... some of our buyers were asking for 40 year paper 3 years ago. Insanity.
Three years ago was around the time a financial advisor in my business circles was raising the possibility of the U.S. entering a “negative interest rate” environment … so it doesn’t shock me that big players might be looking to lock in even minuscule interest rates for the long term.