“$1 trln in new leveraged credit last five years faces its day of reckoning,” Bank of America strategist Yuri Seliger said in a note on Friday. Most of that debt has been created by below-investment grade companies through high yield loans or bonds. Around $400 billion assets are considered to be in “pre-distress,” while $150 […]
Fitch Ratings surprised markets after it downgraded U.S. long-term debt. Although markets largely shrugged off the downgrade, it has brought attention to the U.S. government’s growing deficit. In a recent report, commodity analysts at Montreal-based BCA Research said that gold remains an attractive hedge against an inevitable devaluation in the U.S. dollar as the U.S.
US Debt Crisis Could Ignite long-term Gold Rally – BCA Research Read More »
A Fitch Ratings analyst on Tuesday warned the agency may be forced to cut the credit ratings of more than a dozen banks, including some major Wall Street lenders. Another one-notch downgrade of the industry’s score, to A+ from AA-, would force Fitch to reassess ratings on each of the more than 70 U.S. banks it
Fitch Warns Multiple US Banks Face Credit Downgrade: Report Read More »
Fitch Ratings’ decision to strip the U.S. of its triple-A credit rating last week was widely dismissed as meaningless This time, though, bond yields rose. That suggests Fitch’s action deserves our attention, not because it tells us anything new but because it joins the stack of evidence of how profoundly different, and risky, the nation’s fiscal situation
Why Fitch’s Downgrade Matters Read More »
