Can "Bond Vigilantes" Ever Return To Set The Fed Straight?

It was a lovely idea decades ago: bond investors would buck the trend and tell the Fed to shove their low rates up their ass. But with how the Fed has rigged the bond market, is it even possible now?

For all of the rockiness that markets endured in late November and early December - mostly stemming from the expectation that the Fed has totally lost control, is definitely going to taper and that inflation will run rampant permanently - the 10 year yield has spent the last few weeks shrugging things off and once again leading credibility to the Fed’s …