Last week it was Greece and Ireland under the credit micrscope at S&P. This week, Spain has been added to the list. Spreads between the German benchmark and the less creditworthy members of the EU are widening to record levels again today, highlighting the risk that the euro experiment may just come apart before all is said and done.
Fitch is on the wires threatening Ireland’s sovereign rating, saying the outlook is worsening on the fiscal side.
EUR/USD is back to session lows, eyeing 1.3310. Barriers at 1.3300 are rumored.
