Zombie firms on the march as rate hikes near

ZURICH: International markets have been buoyant in recent months as easy money policies won an additional reprieve, but a rise in so-called zombie firms shows a rise in interest rates could turn into a nightmare.

In its latest quarterly economic report, the Bank for International Settlements (BIS) said Sunday that the shift in outlook in monetary policy along with low inflation and economic expansion helped investors adopt a “risk-on” approach.