Super Central Bank Week: Three Hikes, One Bond Rout, and a Trade War Rewiring the Map

The world's three most influential central banks — the U.S. Federal Reserve, Bank of England, and Bank of Japan — are all expected to raise interest rates within a 48-hour window this week, an extraordinary synchronized tightening episode driven by oil-fuelled inflation from the Iran war and a global bond market in open revolt. The U.S. 10-year Treasury yield breached 5.04%, its highest level since 2007, before settling near 5%. The question isn't whether...