Investors and central banks are on track to get something they haven’t had in close to two decades: normality.
A world is within reach where money has a cost, inflation and economic growth can run above or below target, US Treasuries reliably yield about 4½ per cent and assets globally are priced off that rate – all things we haven’t had since before the global financial crisis.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
