This Is What The Coming "Bond Shock" Will Look Like

The pertinent message is if bond yields rise 1%, the debt load in the US alone increases $2.4 trillion.  Globally, bond losses would be $8 trillion.

So despite raising rates being the right thing to prevent a bond shock and global market bubbles from melting down, the Fed and other central banks cannot afford to "normalize" yields back to 5-6%.

The Fed is trapped, and it's merely a waiting game for some black swan(2) to roil all markets.

http://www.zerohedge.com/news/2016-06-18/what-coming-bond-shock-will-look