Will there be a tightening in the global credit market?

Opinion

Central banks around the world have been injecting extra funds into the financial system as lenders sit on their hands, indicating the underlying problems are worse than the associated confidence statements suggest.

We won't know for some time yet whether the wild gyrations in global financial markets during the past week - particularly in the US - will translate into a broader economic fallout.

But when Wall St sneezes, the world usually catches a cold.

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