$1.6 trillion in risky corporate debt ballooned after the Trump administration reversed an Obama-era

The total of corporate leveraged loans has hit $1.6 trillion globally, far exceeding the records set before the crisis of 2008. The loans ballooned after the Trump administration reversed a stricter Obama-era policy discouraging high leverage. Now leverage is increasing, while underlying covenant quality is decreasing. The US Federal Reserve, the Bank of England, and the Reserve Bank of Australia have all sounded the alarm over the loans. It is only October and already the UK economy has...