Not really. Generally, ALL CAPS and italic are preferred over bold (as both are specially cut for that, and keep the contrast roughly the same), but bold is not bad either (and for sans serif, always choose bold over italic). Compare with: http://practicaltypography.com/bold-or-italic.html
I am not quite sure about it not being good typographic practice, but it's sure weird historically to mix faces of different weights. Furthermore there is already emphasized (italic) text; it's not strictly necessary for prose.
I've read a handful of books where there is some type of bold formatting used, and in each case it was electronic rich text (e.g an email or word document).
What you definitely shouldn’t do is underlining, though: http://practicaltypography.com/underlining.html