Citing A Failure Of The Congressional

Citing a failure of the Congressional super committee to address the US deficit Fitch moved to change its outlook on US government debt to negative from stable. Economic News USD - Fitch Warns on US Credit Rating Yesterday Fitch warned on the US credit rating. Citing a failure of the Congressional super committee to address the US deficit Fitch moved to change its outlook on US government debt to negative from stable. Technically this means there is a chance of a ratings downgrade within the next two years. This puts Fitch on the same level with Moody's and one level above S&P who downgraded the US credit rating in August, igniting a storm in the financial markets. The move by S&P to lower the AAA rating of the US fueled sharp declines in equity markets and a rush to safe haven ...

The Week Ahead Highlights Risk is back from the brink US debt debate hits an impasse The ECB to stick to its hawkish path Sovereign debt concerns far from over Sterling losing its luster Gold looks down and out, but may offer a buying opportunity longer-term Key data and events to watch next week Risk is back from the brink At the end of the prior week many key markets were sitting just above major breakdown levels and the risk was for a severe move lower. But just one week later, risky assets have rebounded and show a potential resumption of trends higher. Is all suddenly well in the world? Far from it in our opinion, and so we view the past week's rebound with a fair dose of skepticism. The sharp rebound in risk appetite was in large part a relief rally as ...

(Reuters) - Increased housing commitments swelled U.S. taxpayers' total support for the financial system by $700 billion in the past year to around $3.7 trillion, a government watchdog said on Wednesday. The Special Inspector General for the Troubled Asset Relief Program said the increase was due largely to the government's pledges to supply capital to Fannie Mae and Freddie Mac and to guarantee more mortgages to the support the housing market. Increased guarantees for loans backed by the Federal Housing Administration, the Government National Mortgage Association and the Veterans administration increased the government's commitments by $512.4 billion alone in the year to June 30, according to the report. "Indeed, the current outstanding balance of overall Federal support for the nation' ...