There are signs that bubbles of overseas bond markets are about to burst. The risks of American bonds can't be ignored. ANBOUND think tank scholars point out that judging from the current growth speed of American long-term bonds’ rate of return, it is almost certain that Federal Reserve will announce to raise interest rates in September, which is unlikely to cause great market vibration since market rate has risen a lot. European and American bond markets might have entered earlier stage of bubble burst, except Japanese bond market.