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The markets around the world are rattled silly this morning by the first ever downgrade of the U.S. Government’s debt by Standard & Poors. That is understandable but not, in my mind, rational.
In the U.S., is it the fall of the Roman Empire or will our anemic growth pick up steam and help us out of the economic doldrums? Here are five questions to ask.
One of the first things investors learn after “buy low and sell high” is that markets hate uncertainty.
To be downgraded is a national disgrace. It comes about via a political battle that should never have been fought.
"S&P have been signalling for some time that they were unhappy with the progress of the deficit, so in a sense it should not come as a surprise," William Rhodes, senior advisor at Citi and author of 'Banker to the World', told CNBC.
"Clearly the S&P downgrade is a disappointment, clearly the timing as well is disappointing but I don't think financial markets will be taken completely by surprise by this," Henry Dixon, fund manager at Matterley Asset Management told CNBC.
The decision by Standard & Poor's to cut America's debt rating is, in Alan Greenspan’s view, bad for America’s state of mind.
"A one notch downgrade by a single agency doesn't force anybody to sell treasuries, it doesn't affect cash funds or money funds, so in the short term, the practical implication is pretty limited. It has been made pretty clear the US Federal Reserve will continue to accept US Treasury paper and US-guaranteed paper as collateral," Ewen Cameron Watt, chief investment strategist at BlackRock Investment Institute, told CNBC.
With S&P’s downgrade of the United States’ credit rating from AAA to AA, many are speculating on how markets and U.S. authorities will respond.
There he goes again. Out on the campaign trail, President Obama is proposing more federal spending as his answer to sluggish growth and jobs. That won’t do it, Mr. President.
Just imagine what would have happened to the markets if the debt ceiling wasn't raised. Yesterday, the equity markets fell off a small cliff and gave back the gains for the year. Today, we are watching the markets on a roller coaster ride as investors try to figure out what is really happening in the economy.
If part of your investing strategy this year is based on the presidential cycle, you need to acknowledge that things are not going as planned. Streaks last until they don’t. Similarly, if your investing strategy is based on an economic recovery, you will need to acknowledge that growth has slowed.
With the threat of failure to reach a debt deal finally out of the way and the worsening global macroeconomic picture gripping investors, it has been a win- win for US Treasurys so far.
¿I certainly think we are going to see some disappointing job numbers in the report today,¿ Gautam Godhwani, chief executive of SimplyHired told CNBC. He added that for while the number of job openings was likely to be up in July it would still take a couple of months for that to be reflected in the government¿s own numbers.
Whether it’s the uncertainty of the new health care provisions, the plethora of proposed regulations included in Dodd-Frank, or the current budget and debt debate — one thing is for sure: small business owners are faced with an unprecedented amount of uncertainty.
There is something you should know about the deal to cut federal spending that President Obama signed into law on Tuesday: It does not actually reduce federal spending, the New York Times reports.
The economy is in big trouble, and the world’s central banks may be running out of ways of turning it around, according to Carl Weinberg, chief economist at High Frequency Economics.
The US is likely to see its debt downgraded by the credit rating agencies, despite the passage of a bill to raise the country's debt ceiling on Monday, analysts told CNBC.
The bear market is on its way back, economist and contrarian investor Marc Faber, the editor and publisher of The Gloom Boom & Doom Report told CNBC Tuesday.
The debt ceiling debacle and the latest Greek bailout deal are almost behind us, but euro and dollar investors still aren't happy.