AUTOREFRESH 
S&P downgrades Spain to AA, Outlook negative
By Jamie Coleman || April 28, 2010 at 15:28 GMT
|| 27 comments || Add comment
Add Spain to the list of EU sovereigns cut by S&P in the last two days. EUR/USD is breaking to new lows for the year, falling as low as 1.3131 so far. Expect 1.3100 barriers to provide a speed-bump for the EUR
UPDATE: S&P says Spain is set for a more protracted period of sluggish activity than previously assumed. Real GDP is projected to grow by an average 0.7% annually through 2016.
Spanish banks are being hammered after the news as the sovereign debt crisis leads to banking instability, the reverse of the 2008 debacle.
OMGGGGGGGGGGGG
WOHOOOOO
here we go again !!
Made 40 pips on EURUSD in 4 minutes
swoooooooonnnnnnn
Oh…shit what are those Euro country doing….killing each other…
Well done taj. I’m not touching it.
now all we need is the Fed to hike, and we gotta a party !!
I guess bad news comes in bunches
Germany is preparing to invade europe again
WW3 Merkel style
nothing surprises me at this point.
UK is next…
Thanks, hart … now just watching
uhhhohhh NO-Bama the UN-Bama is monitoring Greece…LOLOLOLOL…send in the unions from gm to clean it up..lolol
I wonder what the euros hull depth pressure is?
Zapatero…………….
right now EUR/USD is only going up to come out of the oversold area, and to go down,down,down again…
SPAIN DOWNGRADES S&P TO “MORONS” AND GREECE DOWNGRADES S&P TO “CROOKS”
I wonder if I go 2-for-2 with my 125.00 and my 119.00 call on EurYen?
These numbnuts in EZ are insane…….oh well, just profit from the chaos I guess….
jamie forget piigs try CINN (cali-ill-new york-new jersey) heard it cnbc sounds great
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I question the timing of this crazyness by S/P & Fitch. Aren’t they satisfied with destroying Greece already? now they wanna raise new skeletons! comon give Europe a lil break. Let world economy live. Someone needs to put an end to these rating agencies.
I think panic plays the main role here.Like: Spain FM said no comment, Portugals didn’t care either. They knew well before they would be cut by S&P. So did Greece. I think they all know where they stand now.
Here’s a more appropriate action: declare war on Goldman Sachs and other global financial firms that created this mess. Send the troops, the planes, the tanks, and the ships. Attack every outpost of the saboteurs on European soil. Blockade the airports and ports. Make Wall Street traders and CEOs fear for their lives, or at least for their freedom to travel. Build some Guantanamo-like facility to hold these enemy financial combatants until they can be tried, convicted, and properly punished.
Wallstreet is trying to make the Dollar look good by comparison to the Euro and it’s problems. As if the US is a “flight to quality”. HA! They are ALL in the toilette!!! Why are the US Treasury Bond Auctions a flop?? If the tax base is weak, and the US credit at it’s limit, we are looking at higher taxes, cutting govt. services, inflation, and a fire sale on govt. resources.. Can you figure out another way the govt can raise money to satisfy creditors?? Ok, war.. Sorry I forgot that one.. To quote DBSmith, we are looking at a summer of discontent!!
Umm, Willie, where did the dollar go during the brunt of the US housing crisis? 1.23 EUR/USD. US credit is at its limit with 2-year notes yielding 1%? Nice try…
Umm, Willie, where did the dollar go during the brunt of the US housing crisis? 1.23 EUR/USD. US credit is at its limit with 2-year notes yielding 1%? Nice try…
Not looking good for the Euro in general, how far behind is the UK too?