Biotech Values

[linhdtu]

OT: On SP downgrade

from the big picture web :
<In finishing this up, I’ll note that the 10-yr US Treasury is ripping this morning, trading as I write at 2.40%. I guess the talk around the water coolers at S&P must be something like: “WTF? Don’t they believe us?” Answer: No, S&P, we don’t. And thanks for all your help circa 2005-2008 enabling the crisis in the first place. That won’t soon be forgotten. Nor will the defense of Lehman right up until the end.

Adding: No comment about S&P is complete without mentioning their complicity in rating GS’s Abacus deal AAA.>

I read yesterday that a bond rating has two parts : ability and willingness.
The US gvt can always pay its debt so that the rating for ability to pay remains and should be AAA. The willingness , because of the current and possible future deadlock in DC, should rightfully be downgraded to AA to send the pols a message.

I don't remember who said it but he said something to the effect :
"if I get to come back after death, I want to come back as the bond mkt because nobody f*%ks with the bond mkt ". A true statement if there is one.