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Borrowing record sparks unease as era of low interest rates begins to unwind

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A borrowing binge by companies and governments pushed debt to a fresh high this year, providing bumper fees for Wall Street but raising questions ahead of a year of expected monetary tightening by the most important ­central banks .

Blue-chip corporates such as AT&T

and Microsoft led the way, as companies accounted for more than 55 per cent of the $6.8tn raised in 2017 through bond sales organised by banks, according to data provider Dealogic.

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