Can The World Afford Higher Interest Rates?

That's the end of QE tapering talk then? Not quite, but it should die down somewhat, give U.S. Fed Reserve conduit Jon Hilsenrath's latest kiss-and-tell article in The Wall Street Journal. Thankfully, it might also stop all the blather about the U.S. and global economies recovering (they're not) and this being the end of the bond bull market (premature). What most investors fail to realise is that developed markets, including the U.S., simply can't afford a normalisation in interest rates: highe...