On a Monday morning in Tokyo, the Nikkei 225 fell nearly two percent as the prospect of simultaneous monetary tightening by both the Federal Reserve and the Bank of Japan reminded investors that the long era of cheap money carries an expiration date. Words spoken by Fed Chair Kevin Warsh in Washington the week prior had already unsettled Wall Street; by Monday, that unease had traveled across the Pacific, pushing Japanese government bond yields to multi-decade highs. Markets are not merely reacting to policy — they are reckoning with the end of a financial epoch that has shaped investment beha