China downgraded US credit rating this morning!
Well that says it all! China just downgraded US credit rating from A- to BBB+. Please read the article on Zerohedge website :
Lately, we have heard rumors that China has halted and may start to dump US treasuries. Following this downgrade, you can bet that these rumors are true because you don't buy something that you downgrade!
This has big implications for the US and we might see that bond market selloff resume and that will put more pressure on the stock market AND the dollar. Boy oh boy this can get ugly very soon...
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