Downgrading the world's rating agencies
Standard & Poor's downgrading of US government debts from its AAA rating may have turned the world upside down, but I suspect credit rating agencies rarely turn firms inside out. Either way, investors can still lose their pants.
Right after the downgrade, US Treasuries actually rallied after yields fell to their lowest point since early 2009. The market …
Keep reading with a 7-day free trial
Subscribe to Asia Sentinel to keep reading this post and get 7 days of free access to the full post archives.