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New York: It was the week that bond markets finally seemed to grasp what central bankers have been warning all year: higher interest rates are here to stay.

The question now is how much higher they can go, with no real top in sight after key levels were broken. While some argue the moves have already gone too far, others are calling it the new normal, a return to the world that prevailed before the era of central bank easy money distorted markets with trillions of dollars of bond buying.

IT was the week that bond markets finally seemed to grasp what central bankers have been warning all year: higher interest rates are here to stay. From the US to Germany to Japan, yields that were almost unthinkable at the start of 2023 are now within reach. The selloff has been so extreme it’s forced

(Bloomberg) -- It was the week that bond markets finally seemed to grasp what central bankers have been warning all year: higher interest rates are here to stay. Most Read from BloombergEurope’s Richest Royal Family Builds $300 Billion Finance EmpirePakistan Rupee Set to Become Top Performing Currency Globally Murder Claim in Canada Is Only Helping India Leader Modi at HomeWeight-Loss Drugs Estimated to Save Airlines MillionsHouston Oil Trader Aims to Snap Up More of Europe’s Football UpstartsFr

The implications stretch far beyond markets to the rates paid on mortgages, student loans, and credit cards, and to the growth of the global economy itself.