, Columnist
A Hawkish Dawn Starts to Break Over Global Bond Markets
Traders are starting to absorb the reality that the taper is coming and central banks are going to be tougher than we expected.
Traders are starting to see the light.
Photographer: Brook Mitchell/Getty Images
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Central banks are going to be tougher than we all thought. That’s been the dawning realization for a while, and it has now, very swiftly, been written into markets. The Federal Reserve will probably start to taper its asset purchases next week. Counterparts to the north and far to the south have prepared the way for them.