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Well, you might be surprised. Japan's market rallied 3% the day after their downgrade.
by radicaldreamer 15y ago
Well, you might be surprised. Japan's market rallied 3% the day after their downgrade.
- mbreese 15y agoThat's probably because the market thought they hit rock bottom. Markets like uncertainty less than bad news, so they are much happier knowing about the downgrade.
- joelhaus 15y agop.s. To your earlier point, the '40 ACT details investment requirements for Money Market Funds [can't think of them now, but you are right, there are numerous statutory requirements related to the grade of security certain bodies may invest in]: http://taft.law.uc.edu/CCL/InvCoRls/rule2a-7.html http://taft.law.uc.edu/CCL/InvCoRls/rule2a-7.html
- radicaldreamer 15y agoThose don't come into play because Moody's and Fitch maintained their AAA ratings for US treasuries.