explosion bomb

ORIGINAL POST: Just breaking from Dow Jones.

S&P could deliver several Eurozone downgrades sometime today.

This is of course the rumour that comes over and over and over again, but this time it’s from a very reputable source, and it also jibes with other reports that S&P planned to do the downgrades before the end of the month.

Recall that late last year, S&P put every AAA-rated Eurozone country on watch for a downgrade.

We’ll be watching all day.

Since the headline came out, markets have lost a little more ground, and peripheral yields have jumped up.

UPDATE: Reuters is also reporting that there are likely to be downgrades today, but that Germany will be spared. That probably means the French AAA is toast, which is something people have figured for a long time.

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