Moody’s: Spain downgraded to A3 from A1, outlook negative

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Reports that Italy and Portugal also downgraded, with Italy down to A3 from A2 and Portugal to BA3 from BA2.

The UK, French and Austrian outlook on AAA rating was also changed to negative.

2012-02-13T23:07:08+0000

All|Asia Pacific

EU economy

Sean Lee

8 Comments

  1. ahh so this is why we have steadily sold off all day…the big fish knew all day long this was going to happen…great info arb there

  2. When ever it seems that markets are about to recover and things are going to improve the rating agencies do something like this to destabilize markets again. S & P has already downgraded these countries so i dont think this downgrade will make any major impact at all.

  3. Sean, time to reanalyze our GBP/AUD long? An outlook negative may lead to a strip off to UK’s coveted ASS in 6 months time, no? Thanks

  4. I meant AAA, thanks to my Android’s auto correct keyboard.

  5. Certainly possible Siva and it looks like we may have gotten timing wrong on this one? I only have small position so I’ll sit and watch for while

  6. Excellent mistake though Siva :)

  7. Thanks Sean. I am also having a very small position, but getting very impatient with a loss making position with a negative carry. Yeah it was a funny mistake… :D

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