Unintended fall out from policy meant to get financial markets back on track is having an ongoing and unintended impact on the credit market. According to Legal & General Investment Management (LGIM) low interest rates, money pumped into the system through measures such as quantitative easing and running large government deficits, while all sensible, have knock-on hits we’re only feeling now. LGIM credit strategist Ben Bennett said today (29 February): “The roots of the crisis lie in excessive borrowing which is now being unwound, these policy responses help to defer some of the pain caused by deleveraging, as low financing costs can boost asset prices....Read more HERE