worldspy -
22.05.12 12:28
The news of the morning is that Fitch has downgraded Japan due to the "leisurely" pace of its fiscal consolidation efforts.This will prompt a little bit of howling about how maybe Japan really is doomed and whatnot, but really it's pretty irrelevant to anything that actually matters in the world.
When a ratings agency downgrades Japan, there's basically one chart that we like to bring up, and that's this chart from Nomura showing the ramifications of 10 previous downgrades.
In all but two cases, rates were lower after the downgrade.
It really shows how little the market cares about Japanese mehr bei businessinsider.com
