BREAKING 🚨 Moody's just declined to downgrade France, keeping it at Aa3 with a negative outlookThat keeps France's last…
BREAKING 🚨 Moody's just declined to downgrade France, keeping it at Aa3 with a negative outlook
That keeps France's last double A rating alive, even though most analysts expected a cut tonightFitch and S&P already have France at A+The backdrop is ugly. France's 10 year yield topped 5% this week for the first time since 2002, and the spread over Germany is above 170 basis points, up from about 70 at the start of the year and the widest since 2011Debt sits at 119% of GDP with a deficit near 5.4%, and riots hit several cities last weekendPM Lecornu says the decision defies the pessimistic forecasts. The bond market is clearly still pricing in a lot more risk than Moody's isNext test is the S&P review on November 27 $EWQSource: StockMarket.News
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