ratings agencies

BBH CurrencyView US dollar is mixed; ADP report likely supportive of USD against JPY and CHF Swiss KoF leading Indicator reaches four and a half year highs Euro softer on the day but remains resilient in the face of…

By Win Thin S&P cut Portugal one notch from BBB to BBB-, and comes just five days after it cut the rating from A- to BBB. Did things really materially change over the past five days? It’s time for a reminder of what the agencies are…

By Claus Vistesen The past week has shown the dark side of media coverage and the analysis of current events. It is a test on just how much information you stuff down the public's throat. In the narrowness of my own world, the financial…

Moody’s cut Portugal by two notches to A3 and kept a negative outlook despite the recently announced fiscal tightening and despite the tentative plan to expand the EFSF. This downgrade really shouldn’t come as any surprise. As we wrote just…

By Marc Chandler The market continues to digest the meaning and implications of Moody's decision to cut Spain's rating to Aa2 from Aa1. The two main considerations behind Moody's decision is that the cost to restructure the banks will be…

BBH CurrencyView Highlights The US dollar is stronger, benefitting in part from euro weakness as the sovereign debt returns to the fore and geopolitical tensions linger. The euro fell to the lowest level in a week, down three of the…

The three notch downgrade of Greece from Ba1 to B1 by Moody’s was a bit surprising, even to jaded followers of rating agency behavior. While we have remained negative on the country, is it really as bad off as Mongolia, Sri Lanka, Belarus,…

Egypt reserves for February were reported today, and fell almost 5% ($1.7 bln) from January to $33.3 bln. This follows a $1 bln decline in January, and the stock market hasn't even reopened yet. While officials are likely very concerned…

By Marc Chandler The government submits a budget. Their majority in one house allows it to be passed there. The opposition is trying to obstruct it and it is raising concern about the world's largest public debt. This is not the US, but…

from the BBH Currency Strategy Team Turnaround Tuesday appears to be in force today, with the dollar softer and EM firmer. However, ranges are fairly narrow as trading slows and markets thin ahead of the Christmas holiday. Euro staged a…