$3 trillion corporate credit crunch looms as debtors face day of reckoning, says IMF

„Emerging market companies have „over-borrowed“ by $3 trillion in the last decade, reflecting a quadrupling of private sector debt between 2004 and 2014, found the IMF’s Global Financial Stability Report. This dangerous over-leveraging now threatens to unleash a wave of defaults that will imperil an already weak global economy, said stark findings from the IMF’s…

ZH: The Unwind Of QE Means The „S&P Should Be Trading At Half Of Its Value“, Deutsche Bank Warns

„Since 2013, stocks rallied while disinflationary pressures were reinforced by a strong USD, low commodity prices and a decline in global demand. If pre-2013 coordination between the two is taken as a reference, then based on current stock prices breakevens should trade about 1.5% wider. This means the Fed should be hiking because inflation is…