Stocks, bonds and treasuries dropped after Fitch Ratings lowered Portugal's credit rating and US debt auction encountered an unexpectedly weak demand. This may signal that financial markets start getting tired and can no longer absorb massive debts issued by governments around the world in order to finance their stimulus programs. I don't know if this is it, but if it is, then it belongs to that famous series of "It's coming, baby!". Now everybody should better start watching their ass. Israel for example may want to start worrying about its debt to GDP ratio. These days it's smart to err on the safe side of things.
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