When you look down or up in 3rd person and rotate the camera at coordinates higher that 4096, sometimes the camera will stutter a little bit if you are facing the correct way.

Steps to reproduce:

1. Make a new world and set the game mode to creative mode;
2. Press F5 to toggle 3rd person view;
3. Type in chat the following: "/tp 5000 128 0 0 90" (without quotes);
4. If you are not looking down then look down;
5. Drop down on the ground (if you were flying);
6. Slowly rotate the camera as shown in the video below;

Or you can just walk over 4096 blocks in one direction and then toggle 3rd person view and look down and very slowly rotate your camera 360° and most likely notice it. Note: it gets worse after 8192 blocks away from 0, 0 (center of world)

Watch video for proof.