OK, all over the British media is speculation on whether the US will default before Greece does, and how baaaad it will be, should we have a (technical) default. That must mean that US bonds went down in price, up in yield, because the assorted ratings services are babbling (I do mean "babbling") down grade, right? And the US Dollar went down today because, after all, who would want USD denominated debt, right?
Naturally, the above seemingly logical results were all what did NOT happen. Bonds were up smartly and the dollar was up against at least all the following: $C, $A, GBP, Euro, NZD, and Yen.
"When logic and proportion fallen sloppy dead..." with apologies to Grace Slick.
Naturally, the above seemingly logical results were all what did NOT happen. Bonds were up smartly and the dollar was up against at least all the following: $C, $A, GBP, Euro, NZD, and Yen.
"When logic and proportion fallen sloppy dead..." with apologies to Grace Slick.
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