The $14 trillion bond market has caught Wall Street off guard

Luke MacGregor/Reuters The $14 trillion Treasurys market was rattled this week by news from several central banks. Investors were led to believe that Japan, China, and the Eurozone could be slowing their bond purchases. "None of these developments were priced into the market as interest rates rose in response," analysts at Bank of America Merrill Lynch said. But a strong auction for Treasurys this week, and misinterpretations of what China and Japan signaled, indicated there's still a healthy ap...