Goodbye Super-Committee, Hello Stupor-Committee: It's Official - "No Agreement"
As if anyone is actually surprised by the headlines appearing from Bloomberg with regard the Super-Committee - which in retrospect is perhaps a little aggressively-named:
*SUPERCOMMITTEE SAID TO ANNOUNCE NO AGREEMENT REACHED
*U.S. DEBT SUPERCOMMITTEE ANNOUNCEMENT SAID LIKELY ON MONDAY
While not immediate, it would seem obvious that a ratings downgrade can't be far behind this event given the reasoning for the last downgrade and the clear indication by this lack of agreement that nothing-has-changed.
S&P recently said that a 'watered down' package from the Super Committee would put downward pressure on the rating. Moody’s said the outcome of the Super Committee would be informative but not decisive for its rating analysis.
We would also assume that Defense and Healthcare stock analysts will be bombarding inboxes in 3..2..1..with buy recommendations...
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