File - View of a Bank of America branch on June 26, 2012 in New York's Times Square. (AFP PHOTO/Stan HONDA)
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Debt exceeds $100T as governments binge: credit marketsThe amount of debt globally has soared by more than 40 percent to $100 trillion since the first signs of the financial crisis, as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates.The $30 trillion increase from $70 trillion between mid-2007 and mid-2013 compares with a $3.86 trillion decline in the value of equities to $53.8 trillion, according to the Bank for International Settlements and data compiled by Bloomberg. Marketable U.S. government debt outstanding has soared to a record $12 trillion, from $4.5 trillion in 2007, according to U.S. Treasury data compiled by Bloomberg.Yields on U.S. government bonds have dropped 2.3 percentage points since 2007 to an average 1.6 percent, according to Bank of America Merrill Lynch bond index data.The jobless rate was 6.7 percent in February, government data showed last week, down from 7.7 percent a year earlier.
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