ratings agencies

By Win Thin, Global Head Of Emerging Markets Strategy, BBH Here are some more thoughts on Moody’s actions today. In general, Moody’s has been too soft on Europe and so putting Ireland’s rating on review for possible downgrade (just like…

by Win Thin of BBH Here are some final thoughts on the Moody’s downgrade of Spain.  In general, Moody’s has been too soft on Europe and the downgrade to Spain was long overdue.  We still believe that the downgrade story will…

Highlights The US dollar remains on its back foot. The main driver remains the contrast between the likely trajectory of Fed policy in contrast to the ECB. Moody’s 1-notch downgrade of Spanish credit rating and news that Anglo-Irish needs…

From Brown Brothers Harriman's Currency Strategy Team Highlights US dollar is mostly firmer on the day vs. the majors as risk off trading seems to be on the upswing, losing ground only to CAD and EUR.  The euro made another attempt…

Spain's Finance Minister Salgado says the downgrade of Portugal earlier today does not put pressure on Spain. It is true as far as it goes, but of course Spain's problem transcends Portugal. The ruling Socialists in Spain are seven seats…

Highlights The US dollar is broadly mixed as the news stream buffets the foreign exchange market.  A better than expected reception to  the Greek T-bill auction helped mitigate the reaction to Moody’s decision to cut Portugal’s…

The credit rating agency Moody's has cut the credit rating of Portugal two notches to A1 from Aa2. While the move is not entirely unexpected, it is having a negative effect on the euro. Expect Marc Chandler to say something about this in…

As we begin the second half of what has already been a challenging year, it may be helpful to consider the potential drivers of the global capital markets.    As always, numerous factors have to be juggled.  Now however,…

Moody’s upgraded Chile to Aa3 (equivalent to AA-), citing its “financial resilience” after the Feb earthquake.  Moody’s also praised years of solid macro policies, the fiscal surplus rule, and low debt as other factors behind the…

Highlights The US dollar is mixed in choppy trading.  The euro has shrugged off a weaker than expected ZEW survey (28.7 vs. 42.0 consensus after finding a bid near $1.2170.   The BOJ unveiled a new JPY3 trillion loan…