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Moody's downgraded Italy three notches from AA2 to A2

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    Moody's downgraded Italy three notches from AA2 to A2

    Is that bad?

    This is confusing:
    David Jones, chief market strategist at IG Index, tweets that the Dow Jones has fallen after the close.

    And now, #dow down 100 points in after hours presumably on back of Italy downgrade. Crazy markets.
    Debt crisis: live - Telegraph

    Moody's has downgraded Italy three notches from AA2 to A2, partly on increased downside risks to economic growth and weakening global outlook.
    Any relation?

    Who's next? France? Portugal? Belgium seems to be a contender too.

    #2
    Time to buy beans yet?

    I've already got a stock of 3 bags of 1.5kg self-raising flour (52p each from Sainsbury, can't see that price lasting, never mind the flour).

    Comment


      #3
      Downgrading to Z probably won't be enough to get rid of Berlusconi.

      Comment


        #4
        Originally posted by AtW View Post
        Downgrading to Z probably won't be enough to get rid of Berlusconi.
        He's hiding:


        An extremely rich man by all accounts.

        Comment


          #5


          I think we need caption competition.

          Comment


            #6
            This is bulltulip. The downward cycle of equities which rallied
            in the US at the end as dirty speckulators ploughed in gets rerated after Italy is 'downgraded' by Moodys. Nothing changed apart from some limp ducked Sasguru
            clown went 'i fink there is more risk and so I will say so' and the markets lose another x Billion.

            Goldman's rules the world.
            What happens in General, stays in General.
            You know what they say about assumptions!

            Comment


              #7
              Originally posted by AtW View Post


              I think we need caption competition.
              Berlusconi caught red handed on uterus cam.

              Comment


                #8
                Originally posted by AtW View Post
                Another politician gets lost in Berlusconi Triangle.

                Comment


                  #9
                  **** Moodys and the others - they are part of the ******* problem - who listens to these overpaid loons?

                  Comment


                    #10
                    Originally posted by Peoplesoft bloke View Post
                    **** Moodys and the others - they are part of the ******* problem - who listens to these overpaid loons?
                    "Moody’s Assumed 4% Annual Home Price Rises in Bond Rating Model" - not entirely unreasonable given that normal inflation has always been around that number anyway.

                    What was totally unreasonable is that they rated dodgy loans as AAA and as the result banks started giving them to anybody who was willing to get 'em.

                    Comment

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