Bond Traders Worry Central Banks Are Firing Guns Without Bullets

What happens when central bankers do everything they can to spur economic growth and prop up markets -- and still fail?

That’s a question that’s come to the fore in the past few days as China unsuccessfully tries to support its plunging stock market and the European Central Bank pledges to use its monetary tools to prevent fallout from a Greek default. Even after trillions of dollars of central-bank stimulus globally, bond traders are showing they’re still worried about stagnant global growth.