Dollar Gains On U.S. Debt Warning Because Euro Stinks Worse | Irish Sun

Dollar Gains On U.S. Debt Warning Because Euro Stinks Worse

Forbes Monday 18th April, 2011

Time to pull it together, pols Sniffing the obvious, Standard & Poor's cut its outlook for U.S. sovereign debt from stable to negative Monday morning. "We believe," reads a statement released with the announcement, "there is at least a one-in-three likelihood that we could lower our long-term rating on the U.S. within two years." The Dow was down more than 200 points. The S&P hung by its fingernails to 1,300 and the yield on a 10-year Treasury has inched its way to 3.44% For the record, or for what it's worth, S&P still considers U.S. debt AAA. Given the fact the U.S. government is 28 days away from bumping up against the $14.3 trillion debt ceiling, we suspect the question of Uncle Sam's ability, let alone political will, to pay is too obvious to ignore. The current Whi...

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