After weeks and weeks (6, to be specific) of extraordinarily calm and narrow trading ranges in ultra-low-yield territory, the bond market has suddenly decided it's time to jump back up toward higher yields.  The move is fairly large, abrupt, and serious.  But why?  

The longer a trading range remains as narrow as the one just witnessed, the bigger the risks become that "something else" will happen.  There are really only 2 choices when it comes to departing a narrow, sideways range.  Yields were either going to move higher or lower. 

I won't say that...