réduction du levier d'endettement

CONT: Deleveraging and its impact on financial markets. The contagion that followed the Russian moratorium had dramatic repercussions for global financial markets. While leveraged investors had already begun a slow process or retrenchment since the onset of the Asian crisis, the Russian announcement acted as a catalyst for a sharp market reversal. The need to cover losses in the most affected market segments and the sudden increase in margin calls from lenders forced investors to liquidate a wide range of assets and investment strategies.