Don’t Fear a Moody’s Downgrade of U.S. Debt — Fear a China Slowdown
Filed under: Economy, Moody’s Corp, Money and Politics
Last summer, following the political circus that was the country’s debt-ceiling fight, Standard & Poor’s downgraded America’s debt one notch from its coveted “AAA” rating to “AA,” — an action that many predicted would surely lead to financial doom.
Nothing of the sort happened.
In fact, what followed was just the opposite: Fearing global instability and even deeper economic troubles in Europe, investors from around the world rushed into U.S. Treasuries, sending yields to record lows, and…
Don’t Fear a Moody’s Downgrade of U.S. Debt — Fear a China Slowdown originally appeared on DailyFinance.com on 2012-09-13T13:25:00Z.
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