Let me tell you a little story about the "taper tantrum."
In June 2013, the US economy was a few years removed from the Global Financial Crisis. I'd taken a job with an investment research company that same month.
In my first week on the job, Federal Reserve chairman Ben Bernanke made a statement that would cause a short-term market panic. He said that the bank was considering "tapering" their quantitative easing program, thus pulling central bank support for the economy.
As a trained economist, I expected bond yields to surge during this "taper." Because if the Fed wasn't buying up as many bonds, that means the supply of bonds would rise and - if demand remained constant - yields would likely go up! And since bond yields and stock prices have an inverse relationship...