Clueless

Moneyweb article on US downgrade:

The ratings downgrade should have come as no surprise. The markets have been predicting a downgrade for the past fortnight.

Yes, we’ve all been talking about it, but the DECLINE in US bond yields over the last fortnight is the compete OPPOSITE of “the markets predicting a downgrade”.

I’d love to know what the journalist, Sasha Planting, was actually thinking when she wrote those words.

Published by David Kirk

The opinions expressed on this site are those of the author and other commenters and are not necessarily those of his employer or any other organisation. David Kirk runs Milliman’s actuarial consulting practice in Africa. He is an actuary and is the creator of New Business Margin on Revenue. He specialises in risk and capital management, regulatory change and insurance strategy . He also has extensive experience in embedded value reporting, insurance-related IFRS and share option valuation.