Aspokesperson for Standard & Poor’s said on Monday that there was a one-in-three likelihood that the rating agency “could lower” its long-term view on US debt within two years. Equities quickly dropped by more than 1.5 per cent but, importantly, the dollar did not weaken and US Treasury interest rates did not rise. The reason for this unusual pattern is simple: the markets think S&P’s move is important not because it signals something new about the economy, but because of its political impact in Washington.
評級機構標準普爾(S&P's)發言人週一稱,該機構在未來兩年內「可能下調」其美國債務評級的幾率爲三分之一。股市隨即應聲跌逾1.5%,但重要的是,美元並未因此走軟,美國國債收益率也沒有上升。出現這種異常走勢的原因十分簡單:市場之所以認爲標普此舉頗爲重要,並非因爲它表明了某些經濟新動向,而是由於它在華盛頓可能造成的政治影響。