, Columnist
Bond Tantrum Is a Big Test of Central Banks' Mettle
It’s their move now. They can win if they really want to.
Are they ready for the test?
Photographer: EITAN ABRAMOVICH/AFP/Getty Images
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Something big just happened in world markets. That I can prove. So I’ll start with the easy part of going through the remarkable events of the week, culminating in Thursday’s great drama, and showing that they’re a big deal. Then will come the much harder questions of why they happened, what might happen next, and what we should all do about it.