“Sovereigns and banks continue to show the greatest downgrade risk. The entities in these two sectors are concentrated in Europe, with 25 European sovereigns and 42 European banks on our potential bond downgrades list,” Diane Vazza, head of Standard & Poor’s global fixed income research, said in a statement, according to Reuters.
Not helping the already sick euro.
CNBC is also fanning the flames of downgrade fever, saying there is talk of cuts as early as today.
S&P did say at the end of last week that its sovereign could be finished in a matter of days…
EUR/USD is at session lows of 1.3018.
