There are many causes of both today's weakness and of the bond market's weakening in general,

Should the job market continue to strengthen, the bond market might become a far less placid place than it has been lately.

Corporate bond investors seem relatively optimistic compared to a few months ago.

The bond market remains quite bearish. The economic news did not change anyone's mind about the Fed raising rates,

These are important concerns for the bond market, ... We know that the Federal Reserve watches these things.