WASHINGTON The head of the top US markets regulator on Monday issued a warning over market risks including rising corporate debt, Britain's withdrawal from the European Union, and the transition away from a key lending rate.
Mr Jay Clayton, chairman of the Securities and Exchange Commission , told an audience in New York he continued to be concerned over corporate debt growth, which he said had been fostered by a decade of accommodative monetary policies. In the US, outstanding corporate debt stands at almost US$10 trillion , almost 50 per cent of GDP, he said.The US corporate bond market, the world's largest, has offered robust returns, particularly for foreign investors, although Mr Clayton added that there are signs those returns may be slowing.
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