Say Goodbye To Easy Money And Hello To Higher Risk

The recent Federal Reserve rate hike may turn out to be a prelude to a major change in world monetary policy. Chances are growing for an upturn in German interest rates, and even Japanese rates, dormant for years, may start to rise. Over the next six months the talk of a world upturn in rates may replace the fear of deflation. The end of easy money will be bad news for both asset prices and job growth. But how much trouble is coming?

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