Wednesday, December 21, 2011

Did S&P Just Telegraph An Imminent French Downgrade?

"Just hitting the tape are these quite perplexing headlines out of Bloomberg:

  • EFSF LENDING CAPACITY MAY DROP TO EU293 BLN, CULLINAN SAYS
  • EURO RESCUE FUND'S CAPACITY MAY FALL BY A THIRD, CULLINAN SAYS
  • EURO RESCUE FUND MAY SHRINK ON FRANCE DOWNGRADE, CULLINAN SAYS
  • S&P SOVEREIGN RATINGS DIRECTOR CULLINAN COMMENTS IN E-MAIL

Odd - because it is S&P who would be doing the downgrading. Cue downgrade rumors."

at http://www.zerohedge.com/news/did-sp-just-telegraph-imminent-french-downgrade