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Spain Loses Triple-a Rating

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FT

Spain on Monday lost its triple-A sovereign credit rating from Standard & Poor’s when the rating agency downgraded the country’s long-term debt because of its deteriorating public finances.

S&P lowered its rating to AA+ from triple-A, arguing that the global economic crisis had highlighted “structural weaknesses” in the Spanish economy that were inconsistent with the highest rating.

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I don't know why people bother with what these rating agencies say. After all, these agencies are the ones told investors until recently that sub prime mortgages are AAA rated investments.

I am begining to think that we are going to have a catastrophic systemic failure globally. I hope I am wrong though.

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These guys should be strung up - they are helping to precipitate the crash with this downgrading.

They are downgrading us into a recession :lol::lol:

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The UK will be next. We've already got a bigger risk premium on our bonds than McDonnalds.

If all the banks' bad debt the government seems so determined to underwrite gets converted to bonds (and lets face it it's not like we've got the tax revenue to pay it off) then UK bonds are going to get trashed. Simple supply and demand.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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