It might be the rebound that was bound to happen.
The world is still in a synchronous economic expansion across developed and emerging markets. It still has at least half a year of liquidity pumping ahead from the key central banks, taken together. And it’s still fascinated by the prospects of digital currencies.
Sure enough, across asset classes the week is ending with a bounce-back from recent sell-offs in equities, higher-risk bonds and Bitcoin. It’s been a long time since Japan led global dynamics, but nevertheless the equity retreat that appeared most strongly in Tokyo Thursday afternoon last week was over a week later.
Just a handful of days after tumbling 29 percent from its all-time high in a rout that wiped $38 billion from its market value, Bitcoin surged back…