News Analysis
The first half of 2022 has seen financial market carnage of historic proportions, from stocks to bonds and even cryptocurrencies. Analysts say the rout is part of the process of markets assessing how severe the next recession will be, along with the reckoning that central banks no longer have the markets’ back. 
“There’s been this sort of implicit asset guarantee, and that got much stronger during COVID, … [that] if markets crash, the central bank will step in. That belief is now fading—as it should—but at any rate it is now fading,” Peter St. Onge, research fellow in the field of economic policy at Washington, D.C.-based The Heritage Foundation, told The Epoch Times….