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Credit markets sober up after years of excess

Financial News' top three debt and credit stories of the year

The credit markets ruptured this year ending a phenomenal bull run in which record amounts of debt, complex or otherwise, has been raised to feed demand for yield and finance a global binge in mergers and acquisitions and leveraged buyouts. Here Financial News lists some of the highlights of the year when credit turned from feast to famine.

• Private equity and hedge funds slug it out

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