Can anyone clue me in what went on back then? I was too young pay attention. There seems to be a lot of comparison between now and then and what could happen when the bond "bubble" collapses. And from what I've researched, there doesn't seem to have been any significant economic crisis in 1994. Stock market was flat. Unemployment was fairly low and falling. GDP growth was steady. Only things that raised red flags were a VIX spike to 25 and the fed raising interest rates (probably cause of the collapse.) Also, did the bond "crisis" in 1994 contribute to the Republicans taking Congress?