-
Capitol Hill Insurrection And Fiscal Concerns Drove Down US Credit Rating, Fitch Director Says
Wednesday, August 2, 2023 - 4:43pm | 426Fitch Ratings downgraded the U.S. credit rating from AAA to AA+. Richard Francis, a senior director at Fitch Ratings, told Reuters that the decision, which caught investors off guard, stems from fiscal worries, perceived governance decline, and increased political polarization — notably...
-
US Credit Rating Cut Triggers Surge In Treasury Yields: 7 ETFs Experience Wild Swings
Wednesday, August 2, 2023 - 4:28pm | 794U.S. Treasury yields experienced a significant surge on Wednesday, influenced by a combination of factors including elevated issuance plans and Fitch’s downgrade of the United States’ sovereign credit rating. The 10-year Treasury note briefly reached a yield of 4.1%, while the yield on...
-
Yellen Rebukes Fitch's 'Unwarranted' Downgrade Of US Credit Rating: Treasuries Hit 9-Month Low
Wednesday, August 2, 2023 - 3:00pm | 496U.S. Treasury Secretary Janet Yellen is publicly criticizing Fitch’s decision to downgrade the United States’ credit rating, a move that led to a significant drop in stock prices on Wednesday. The downgrade was deemed “entirely unwarranted” by Yellen. Yellen, during a...
-
SPY, QQQ, And IWM: The 3 Tickers To Short If The Market Declines After The Fitch Downgrade. How Traders Can Profit From The Fitch Downgrade Of US Bonds.
Wednesday, August 2, 2023 - 1:57pm | 827In 2011, when Standard & Poor's downgraded the United States' credit rating from AAA to AA+, the stock market reacted negatively. The Dow Jones Industrial Average fell by over 200 points on the day of the downgrade, and the S&P 500 fell by over 10% in the following month. This was a...
-
Deja Vu: After Fitch's Cut To US Credit Rating, A Look At The Market Fallout From S&P's 2011 Downgrade
Wednesday, August 2, 2023 - 12:44pm | 811The recent downgrade of the US sovereign credit rating from AAA to AA+ by Fitch Ratings has brought back memories of a similar event occurred exactly 12 years ago. On Aug. 6, 2011, S&P made history by downgrading the U.S. credit rating from AAA to AA+ for the first time since 1941. S&P...
-
EXCLUSIVE: AI Bubble In Sight? 'Cow Guy' Says 'Sell' When Your Uber Driver Buys In
Wednesday, August 2, 2023 - 11:46am | 538Scott Shellady, the finance veteran widely known as the "Cow Guy," spoke candidly with Benzinga on Wednesday about his market perceptions, potential investment opportunities, and his thoughts on artificial intelligence (AI). Here's what investors need to know. Skepticism: Reacting to Fitch Ratings...
-
Fitch Slashes US Credit Rating: 5 Top Economists Weigh In On Economic Fallout
Wednesday, August 2, 2023 - 10:42am | 693In a move that sent shockwaves through global markets, Fitch Ratings downgraded the United States’ sovereign credit grade from AAA to AA+. This downgrade, echoing a move by S&P Global more than a decade ago, comes as a result of several concerning factors affecting the nation’s...
-
Paul Krugman Wants To Know 'Inside Story' As Fitch Downgrades US Credit Rating: 'Strange Decision...I'll Be Shocked If Markets React'
Tuesday, August 1, 2023 - 11:31pm | 494Renowned economist Paul Krugman took to X, formerly known as Twitter, to react to Fitch Ratings downgrading the U.S. Long-Term Foreign-Currency Issuer Default Rating (IDR) from ‘AAA’ to ‘AA+’. What Happened: Krugman, a Nobel laureate and Op-Ed columnist for The New York...
-
US Loses AAA Credit Rating from Fitch — Biden White House Says Republican Extremism Is A 'Continued Threat' To Economy
Tuesday, August 1, 2023 - 9:21pm | 767On Tuesday, Fitch downgraded the U.S. government’s top credit rating, a move that surprised investors and drew a strong response from the White House, despite the resolution of the debt ceiling crisis two months ago. What Happened: Fitch downgraded the United States to AA+ from AAA, citing...
-
A Bolt From The Blue: Treasury Yields Go Haywire; Fitch Retains Negative Watch Despite US Debt Ceiling Resolution
Friday, June 2, 2023 - 3:24pm | 537Despite the resolution of the debt ceiling standoff allowing the U.S. government to meet its obligations, Fitch Ratings has chosen to maintain its "Rating Watch Negative" stance on the U.S. rating, according to a statement released by the credit rating agency on Friday. The suspension of...
-
Why Fitch Ratings Says Macau's Gaming Industry Is Likely To See 'Strong Pent-Up Demand'
Monday, December 19, 2022 - 9:57am | 248On CNBC, Colin Mansfield of Fitch Ratings said Macau’s gaming industry is expected to see a "strong level of pent-up demand" amid the lifting of some travel-related covid-19 restrictions. Don’t forget to check out our premarket coverage here. He added, however, that demand...
-
Canopy Growth - Cointreau Trademark Battle Ends, Fitch Ratings Downgrades Canopy Stock
Tuesday, June 28, 2022 - 8:25am | 750Last year, the French alcohol maker Remy Cointreau (OTC: REMYY) sued Canopy Growth Corporation (NASDAQ: CGC) for alleged trademark infringement over its CBD-infused sparkling water brand Quatreau. Cointreau (pronounced KWAN'troh) claimed that Canopy used Quatreau, (KWA'troh) to "trade-...
-
Fintech Focus For June 24, 2021
Wednesday, June 23, 2021 - 6:01pm | 2260Quote To Start The Day: “Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we.” Source: President George W. Bush One Big Thing In Fintech: The COVID-19 pandemic accelerated acceptance of...
-
Fintech Focus For February 15, 2021
Monday, February 15, 2021 - 12:20am | 2274Quote To Start The Day: Do not confuse motion and progress. Source: Alfred A. Montapert One Big Thing In Fintech: More than 90M millennials will soon be in what Goldman Sachs calls their “prime spending years.” Millennials have overtaken the baby boomers to become the largest...
-
Fintech Focus For December 31, 2020
Wednesday, December 30, 2020 - 7:48pm | 1939Quote To Start The Day: Celebrate endings—for they precede new beginnings. Source: Jonathan Huie One Big Thing In Fintech: In a recent outlook for North American and European fintech, Fitch Ratings acknowledged that the sector fundamentals should remain resilient next year, despite pandemic-...