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Federal Reserve/ECB: credit tightening has not yet done its worst

Trend of using expensive high-yield bonds to refinance the disappearing supply of bank loans has begunEuropean Union

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https://www.ft.com/content/ef1a3c33-6b45-4e35-8580-02d8ec2157f6?segmentId=776b81d7-dd92-c731-e669-99cdd37d3a96#myft:my-news:rss

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