Wednesday, August 10, 2011

S&P, 5 days later

Well, what have we seen? Previously I speculated that bond rates wouldn't move. I have to admit to missing on this one. With the stock market tanking we've seen yield on the 30 year fall by an additional 28 bps, and it would seem that S&P's downgrade is meaningless. However, if we believe reports, they do seem to have some sway on France.

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