Monday, March 8, 2010

Sovereign rating dowwngrades continue

Downgrades are exceeding upgrades continue. The rating agencies are usually the last to know that there is a change in credit or at least it seem that they are always slow to adjust, but the adjustments are happening. We did not have this extended period of downgrades in the last recession nor during the Asian crisis.

Is it possible that there will not be a risk-free instrument?

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