Such triggering events could have the potential to bring about possible abrupt increases in bond yields, spreads and risk premia across mature and emerging capital markets.
BIS Review 121/2006  3  If a triggering event of sufficient severity were to occur, it could bring about an abrupt increase in longterm yields, and credit and equity risk premia across mature capital markets and emerging market economies. This would imply significant asset portfolio losses for banks and other financial institutions.