Archive - Jan 31, 2011 - Story
Today's Economic Data Highlights
Submitted by Tyler Durden on 01/31/2011 07:18 -0500Personal spending and income, Chicago purchasing managers, and the Dallas Fed index…. And then the traditional 11am POMO of course- must monetize those bonds.
As Perfectly Expected, Moody's Cuts Revolutionary Egypt From Ba1 To Ba2, Outlook Negative, CDS Spikes
Submitted by Tyler Durden on 01/31/2011 07:08 -0500The most predictable, (and certainly worthless: see Mark Zandi) entity in the world has gone ahead and done precisely what Zero Hedge said 24 hours ago it would. Moody's has just downgraded Egypt's bond rating from Ba1 to Ba2, with the outlook changed from stable to negative. The move which was as a surprise to idiots everywhere comes as "Moody's notes that Egypt suffers from deep-seated political and socio-economic challenges. These include a chronic high rate of unemployment, elevated inflation and widespread poverty. These, together with a desire for political change, have fueled popular frustrations." And as we predicted yesterday, Egypt CDS continues to slide ever higher, pushing around 460 on the offer side, in those rare occasions it is actually offered.
RANsquawk European Morning Briefing - Stocks, Bonds, FX etc. – 31/01/11
Submitted by RANSquawk Video on 01/31/2011 05:41 -0500RANsquawk European Morning Briefing - Stocks, Bonds, FX etc. – 31/01/11
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