Ben Bernanke, the central bank chairman whose massive stimulus program drove bond yields to historical lows, is now the arch nemesis of bond investors, Reuters reports.

It doesn’t matter whether it’s a “govvies” guy focused on Treasury debt or a junk bond junkie devoted to high-yield corporate (). The losses inflicted across all fixed-income assets since Bernanke signaled on May 22 that the Fed could soon dial back its $85 billion a month in bond purchases have been deep: $406 billion of cumulative losses, according to Bank of America/Merrill Lynch (BAC) Fixed Income Indexes data.