Well, its been building for a while. A steady rise in US 10 Year Bond yields finally got to within striking range of 3%. We actually got to around 2.8+ The Stock markets did not like this and initially lost 400 points at the time of writing this.
If this Bond sell off gets going, and yields really shoot through 3%, I think the Stock market will feel some serious pain.
Not that will be a bad thing, it is horrifically overvalued. I really cannot so any reason why many of the major world indices moved up 30 or 40%, its seems like they just "decided" to , regardless of any economic conditions. The full control and manipulation has been made glaringly obvious, so much so, I would not be surprised to see some backlash against this.
I only wish there would be a petition to remove the FED of all their powers, reset all the values everywhere, and setup more honest markets. ( ie. Full auditing, independently done, including the Federal Reserve )
Sadly, I doubt any of this will happen. The central banks have created a financial Frankenstein and will drive the world into levels of debt which will, in the end, collapse the markets.
Central bankers are very, very dangerous people.