Hawkish Central Bankers Spark a Debate About the End of Easy Money
- Technology, government bond funds bleed assets as banks gain
- Central banks signal move toward coordinated tightening
BlackRock’s Miller Says Central Banks Fear Taper Tantrum
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Is this the dawn of a new era?
Coordinated or not, signals from central bankers from Europe to Canada and the U.S. have roiled financial markets: The 10-year Treasury note yield jumped more than 20 basis points, bund rates reclaimed 0.50 percent for the first time in 18 months, American financial stocks crept towards the highest level in a decade and megacap tech shares turned into market pariahs.