The blind leading the blind.
I thought S&P knew better.
Sadly, they remain deficit terrorists and part of the problem and not part of the answer for a world suffering from an acute shortage of aggregate demand.
*JAPAN’S OUTLOOK `NEGATIVE’ S&P SAYS
*S&P SAYS JAPAN FISCAL FLEXIBILITY HAS DIMINISHED
5y JAPAN SOV CDS moves from 85 mids to 87 / 90 market at the
USDJPY spiked from 89.60 to 90.15 but has since recovered back to 89.70
JGB futures traded down -11c from the 3pm close after the announcement
but are only 3 cents weaker currently