s & p downgrades us debt , page-40

@vvg26

"The US has only been downgraded by S&P nt Moody or Fitch - so how does that work?"

I'm not particularly sure. I'm presuming like many others, fundies rely on either one (or all) of the three to benchmark their fund.

Some may adhere specifically only to S&P or Moody's or Fitch's, just as some of us believe Goldman Squid to be the omniscient viewers of the markets, while others believe Credit Suisse or CLSA.

What's certain, is more than a few funds will have to liquidate their US bond portfolio on the back of this.

Saudi's market's reaction of -6% today is a sign of things to come, and with the G7 wanting to have a conference call, its going to be interesting, watching the tide of selling, if there is any at all.