This record pace of borrowing reflects an unusual strong alignment of both supply and demand issues ... that feed onto themselves in the SHORT-TERM but could well become quite problematic over the longer-term. These include, for illustration: Direct and indirect market subsidization by central banks; Investors stretching for returns, comforted by their strong comfort in central bank backstops; and Companies that, facing unprecedented revenue hits, are eager to avoid what they view predominantly as short-term liquidity problems becoming longer-term solvency ones. #markets #debt #economy #investing #investing #centralbanks #bonds #investors #interestrates #liquidity #fed #credit #bloomberg …see more