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ANALYSIS - Painfully High Interest Rates Wake Up Global Markets

Large investors are warning that fears that interest rates in major economies will remain relatively high are growing, threatening to sound a painful alarm in financial markets. Global stock markets remain near record highs and demand for debt issued by the riskiest companies is strong as traders focus on expectations of a summer rate cut. But asset managers and economists now expect only minimal monetary easing, especially as the U.S. Federal Reserve faces unexpectedly persistent inflation.
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