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That'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 downgr
by mbreese 15y ago
That'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.