Posts Tagged ‘Mary Miller’

Notes From Underground: S&P’s Downgrade … Where’s the BEEF??

April 20, 2011

The markets were roiled by the S&P DOWNGRADE of  the U.S. DEBT  outlook to a “negative” while maintaining the AAA rating. This really could be of no surprise to those who follow the markets closely. The initial reaction was to sell the equities and BONDS. The surprise was that the U.S. DOLLAR was bought aggressively. All of these  trades were short-lived as the S&P closed against recent highs today and the BONDS rallied back immediately on Monday although they have softened with the strength in the EQUITY markets. The DOLLAR was purportedly bid because of the FINNISH vote on Sunday night and of rumors of a GREEK restructuring.

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