Allianz's Subran Warns of Impending 'Minsky Moment' for Global Markets.
Allianz chief economist Ludovic Subran has warned investors to prepare for months of market readjustments, as the threat of a new "financial accident" looms. He referred to economist Hyman Minsky's description of a precipitous drop in asset prices after a build-up of debt, stating that "we have all the ingredients of a so-called Minsky moment." Subran noted that liquidity pools or liquidity crunches are starting to be visible everywhere.