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Market Extra: What caused last week’s ‘taper tantrum’ in markets?

Based on last week, central bankers may have trouble putting the genie back in the bottle.

After the European Central Bank, the Bank of England and the Bank of Canada made statements that suggested a recovery in economic conditions could open the door to tighter monetary policy, bonds sold off from Europe to as far away as Japan. Fears over what a return to a normalization of monetary policy might look like for fixed-income markets were given their first and worrisome glimpse when the 10-year Treasury yield jumped up 15.2 basis points last week, the largest jump since March.

See: Central banks have set investors up for a long, hard road back to ‘normal’

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