After six years of a zero-interest-rate-policy (ZIRP), U.S. interest rates are set to go up. But that does not mean a straight shot up. The Fed has not been in a hurry and with inflation low, can manage the next stage of interest rate management.
Bond bears recently discovered that conventional wisdom was flawed. The experts expecting higher yields at the start of a tapering regime never understood the difference, but equity traders did once they got over the shock.