ALBERT EDWARDS: The Fed is about to cause a bond market 'bloodbath'

Societe Generale strategist Albert Edwards says higher interest rates will trigger a 1994-style "bloodbath" in the bond market.
Markets are pricing in a 100% probability that the Federal Reserve will raise its benchmark rate when it meets Tuesday and Wednesday. The Fed's most recent projection for the fed funds rate, which will be updated at the meeting, showed that it could hike as many as three times this year.
In a note Thursday, Edwards recalled that before 1994 markets were expecting intere