Unable to see anchor point and handles of paths in Illustrator (Bounding box)

Hi. I'm working on an Illustrator file in CS5. Suddenly when using the Direct Selection Tool - anchor points and handles are not visible regardless if selected or not. They're just not appearing. They DO exist though. When I click-drag to select an area where I know there is an anchor point and then I use the arrow keys to move the anchor point - I see the path change. But I don't see the anchor point that I am moving.

This is all occuring only on a particular file. When I open a new .as file and try to duplicate the problem - all works fine.

Any ideas why this is suddenly happening? I assume I accidently hit some thing to change a setting but I can't figure out what. I've checked Selection & Anchor Display in the Preferences, but can't find anything different there when comparing it to a file where everything is working normally.

Thanks