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Gravity Is Back for 2016 Markets as Central Bank Support Ebbs

  • Fed tightening curtails years of support for investors
  • Divergence with ECB, BOJ raises risk of greater volatility

Central bankers risk turning more foe than friend to investors in 2016.

After propping up financial markets with zero interest rates and debt purchases for seven years, top monetary-policy makers are becoming a less calming presence as the new year approaches.