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How high are bond yields likely to rise? That question has been on the mind of investors since rates began to rise in earnest with Ben Bernanke's comments in front of Congress in late May. After starting the year at just over 1.75%, the yield on the US 10-year Treasury bond rose to just more than 2.05% in March before declining through early May, reaching its low for the year at 1.63% on May 2nd. They have been on an upward trajectory since, accelerating after Bernanke's testimony and reaching 2.88% on August 19th. Much of the rise in yields has been due to concern that the Fed will taper its purchase of Treasury and mortgage-backed securities as soon as next month and that it may end its purchases as early as next spring. If the Fed does indeed taper its purchases beginning next month, how high are yields likely to rise?