That's how Marc Faber described the market for treasuries today.
Why would he say this? To answer that you have to look at two different factors - supply and demand. For the demand side, you should look at today's Treasury International Capital (TIC) report.

Net foreign purchases of long-term securities were negative $43.0 billion.
...
Foreign holdings of Treasury bills decreased $15.4 billion.

Monthly net TIC flows were negative $148.9 billion. Of this, net foreign private flows were negative $158.1 billion, and net foreign official flows were $9.2 billion.