COMMENT:

Global debt is on the rise again.

In the first quarter of the year, the world's borrowers piled on another US$3 trillion ($4.4t) to take the grand tally of debt to US$246 trillion, according to the Institute of International Finance (IIF).

We collectively took a pause in 2018. After a US$21 trillion borrowing spree in 2017 we only added US$3 trillion to the debt mountain in 2018.

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We've already topped that in the first three months this year.

Any prospect of deleveraging seems to have been obliterated along with hopes that interest rates might return to normal any time

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