As a collapse in the oil price unleashed chaos in financial markets, Madrid mone...
By day’s end, the bonds of heavily indebted energy firms were trading many times beneath their face value, and fears of a credit crunch were growing.
Talk on trading floors and at funds from Sydney to Singapore, Hong Kong, London and New York, was of crisis. “When it happens, you can’t do much about it,” said Taylor, whose experience in the Mexican, Russian and Asian financial crises in the 1990s and the global financial crisis in 2008, taught him hard lessons about liquidity and helped him prepare.
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