The financial world is currently a frightening place with few obvious areas to hide. That's the spooky analysis of M&G Investments who have revealed their scariest Halloween charts.
Read on to see what's spreading the fear.
M&G says bond markets now expect that monetary policy normalization won't occur until some point in to the distant future.
Anthony Doyle, Fixed Interest Investment Director at M&G Investments, said the resulting low yield is putting pressure on many companies, especially banks.
"Low inflation means that central banks continue to support their heavily indebted and ailing economies, resulting in almost $10 trillion worth of developed market government bonds trading with a negative yield. As a result, many companies - including banks - are struggling in this low (and negative) interest rate world," the note reads.
M&G claim that global portfolio bond duration is now close to 7 years. Doyle told CNBC Monday that any rise in long end bond yields could see large capital losses.
He said the size of the market was growing with governments keen to take advantage of low borrowing costs.
"To be in a world where we now pay for the honor of lending to governments is quite scary when you think you are generating a negative total return," he said.
The Halloween note also said that oil and trade protectionism could trigger a global inflation shock which would only drive rates up.
Credit overhang is a measure of the difference between the credit-to-gross domestic product ratio and its long-term trend. According to this chart, China's credit-to-GDP gap now stands at 30.1 percent, the highest for the nation in data stretching back to 1985.
The Bank of International Stettlements has previously stated that any reading above 10 gives a 66 percent chance of strain on the financial sector in the subsequent three years.
M&G said in their opinion numerous warning signs are flashing amber or red in the Chinese financial system.
"Huge swatches of renminbi have gone into financing large-scale real estate projects and new production capacity for industrial sectors of the economy. This toxic combination of high and rising debt in a slowing economy tends to lead to an economic deterioration," the note reads.