It is going to be a Fed week. The market is 100 percent in sync with a quarter of a percentage point rise for Fed fund rates at 4.75 percent.
It is pretty evident that every time you get above (the 10-year Treasury yield of) 4.72 to 4.73 percent area the market becomes uneasy. That is the inflection point where you see negative returns and some spread widening (in emerging market debt).