Is there widespread sovereign currency risk associated with the debt crisis?
*Financial Times, by Stanley Pignal, November 25, 2011:
''S&P downgrades Belgium's debt
Belgium became the latest country to see its debt downgraded as a
result of the eurozone crisis, in a further sign that debt market
turmoil is no longer confined to the so-called peripheral countries of
the currency bloc.
Standard & Poor's on Friday evening lowered its long-term rating to
AA from AA+, maintaining a negative outlook.
The rating agency cited Belgium's 578-day political impasse as a factor
in its decision. Tensions between Dutch-speaking Flanders in the north
and the francophone south caused the federal government to collapse in
April 2010, and progress on forming a new administration has been
glacial.
Belgian bond yields have risen precipitously in recent weeks, reaching
5.9 per cent for 10-year paper, as eurozone leaders continue to
scramble for a solution to the protracted debt crisis.''
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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