Emerging market's corporate vulnerable to rate hikes; Brazil and India the most: McKinsey
Following a decade of loose monetary policy and historically low interest rates aimed at boosting economic growth after the 2008-9 financial crisis, global central banks including the US Federal Reserve and the European Central Bank are either raising interest rates or signalling an end to accommodative policies.
McKinsey researchers found more companies had shifted to bond market financing after the 2008 crisis. Image source: Reuters