Ratings Agencies

Frontrunning: September 5

  • North Korea Plans New Missile Test as U.S. Calls for Action (WSJ)
  • U.S. crude rises, gasoline falls as refineries restart (Reuters)
  • Putin says tougher sanctions senseless (Reuters)
  • Trump Confronts Accelerating Russia Probes on Multiple Fronts (BBG)
  • Trump poised to rescind Dreamer program, pressure Congress to fix (Reuters)

Illinois Tax Rate Soars 32% After Senate Overrides Governor Veto

In a whirlwind of activity on America's nation holiday, just around noon, first the Illinois Senate voted to approve the House tax hike and spending bill, then shortly after, state Gov. Rauner - just as he warned he would - vetoed both the income tax increase and the budget bill and budget implementation bill, only to be himself overriden moments later by the Senate, as it took the drastic measure to end a record budget impasse.

Moody's Cuts Aussie Bank Ratings Due To "Tail Risk" Concerns

"Whilst mortgage affordability for most borrowers remains good at current interest rates, the reduction in the savings rate, the rise in household leverage and the rising prevalence of interest-only and investment loans are all indicators of rising risks."