On Tuesday, the spread between the US 10-year bond and the German 10-year bond reach 180 basis points (currently at 176 basis points). This was the widest spread since May 11, 1989.
The spread between the two countries 2-year bonds is at nearly an 8-year high and the spread between the two countries 5-year bonds is basically at its widest levels since 1999.
Historically, the spread between the US and German'y 10-year bond hasn't had any correlation to US stock prices. However, since 2009, the correlation between to the two series is an astonishingly high 0.88.