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The Euro zone remains at risk of a liquidity crisis for the national govts.
This doesn’t help.
On Thu, Oct 29, 2009 at 5:37 AM, wrote:
5:02 *MOODY’S CHANGES THE OUTLOOK ON PORTUGAL’S Aa2 RATING TO NEG (From
5:01 *MOODY’S PLACES GREECE’S RATINGS ON REVIEW FOR POSSIBLE DOWNGRAD
MOODY’S SAYS REVISION IN GREECE’S PROJECTED 2009 DEFICIT ADDS TO
CONCERNS ABOUT RELIABILITY OF COUNTRY’S OFFICIAL STATISTIC
to be clear Moody’s has Greece on A1 while S&P already has them on A-
and for Portugal Moody’s still has it on Aa2 and S&P is very penalizing
Peripherals cheaper after the news (Portugal +2bps, Greece +3bps, Italy