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Cheap borrowing has funded dividends, stock buybacks, and M&A, Authers

Corporate America is swimming in cash. 

There is no great news about this, and no great mystery about where it came from. 

Seven years of historically low interest rates will prompt companies to borrow.

A new development, however, is that investors are starting to ask in more detail what companies are doing with their cash. 

And they are starting to revolt against signs of over-leverage.

John Authers, FT 27 April 27, 2016

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