Source: Standard & Poor’s RATINGS LIST To From Austria (Republic of) AA+/Negative/A-1+ AAA/Watch Neg/A-1+ Belgium (Kingdom of) (Unsolicited Ratings) AA/Negative/A-1+ AA/Watch Neg/A-1+ Cyprus (Republic of) BB+/Negative/B BBB/Watch Neg/A-3 Estonia (Republic of) AA-/Negative/A-1+ AA-/Watch Neg/A-1+ Finland (Republic of) AAA/Negative/A-1+ AAA/Watch Neg/A-1+ France (Republic of) (Unsolicited Ratings) AA+/Negative/A-1+ AAA/Watch Neg/A-1+ Germany (Federal Republic of) (Unsolicited Ratings) AAA/Stable/A-1+ [...]

WASHINGTON (MNI) – Standard & Poor’s Friday took rating actions on 16 Eurozone governments, including downgrading France, Italy and Spain while affirming Germany’s ‘AAA’. “Today’s rating actions are primarily driven by our assessment that the policy initiatives that have been taken by European policymakers in recent weeks may be insufficient to fully address ongoing systemic [...]

Next week, all the banks and other government-related issuers in the downgraded countries will be downgraded as well. First the sovereigns, then the banks. They do it every time… Have a good weekend.

AA+ with a negative outlook. Germany’s outlook has been moved to stable from negative. 14 of 16 outlooks in the euro zone remain negative… Finland retains its AAA but has a negative outlook. Italy cut to BBB+ as expected. Spain cut to A from AA-, two notches. Malta cut to junk as well. Cyrus cut [...]

France and Austria cut to AA+, Italy, Spain, Portugal downgraded cut two notches each–EU officials after S&P issued 12-hours notice Greek debt restructuring talks break down US trade deficit rises to $47.8 bln in November, much larger than expected Greece may introduce collective action clauses on existing government debt Fitch revises South Africa outlook to [...]

–$600B In Additional Asset Purchases A Good Starting Point –Fed Could Buy Assets Based On A Meeting-By-Meeting Approach –Key To Monitor Labor Market After Asset Purchases –Unemployment Could Go Up By ‘A Couple Of Tenths’ Next Few Months –Worried That Recent Hiring Is Transitory By Alyce Andres-Frantz CARMEL, Indiana (MNI) – Chicago Federal Reserve Bank [...]

Where better to accomplish absolutely nothing while looking busy…

By Ian McKendry ST. LOUIS (MNI) – Recent U.S. economic data, particularly the December jobs report, show the economy is on the mend and another round of asset purchases is not warranted as long as the economy stays the course, St. Louis Federal Reserve President James Bullard said Friday. “In my view the data has [...]

The downgrades have taken up most of the oxygen in the room today but the bigger news is that Greece (and the rest of the EU) and the banks are miles apart in the PSI talks. Even if that deal gets done, Greece would have a very difficult time sustaining its debt. Without it, they [...]

S&P decision proves EU was right to put in place stabilizing measures (moving up ESM) S&P downgrade reflects Euro zone uncertainty Markets have learned to live with different ratings C’est la vie. Que sera sera… Nothing to see here, move along…

By Chris Cermak RICHMOND (MNI) – Richmond Federal Reserve President Jeffrey Lacker Friday said he does not believe there is a compelling case for more monetary stimulus in 2012 and argued the Fed could do little to boost employment or relieve pressures in the housing market. Speaking to reporters after a speech in Richmond, Lacker [...]

We’ve had three Fed speakers this afternoon. One is the Fed’s most outspoken dove, Charlie Evans of Chicago. He wants to buy MBS until there are no more MBS left to buy. Richmond’s Jeff Lacker wants to steer clear, saying it’s not the Fed’s role to intervene in particular sectors of the economy. St. Louis’s [...]

We know, we know…

Reuters reports, citing 2 Irish officials (down the pub on Friday evening talking craic…)

Downgrade is not catastrophic, AA+ is still a good grade No new austerity plan but there will be strong reforms “Most” euro zone countries have been notified of downgrades by S&P  (“It wasn’t just me, Mom! All the other kids got in trouble too!”)

Banks want the bonds that Greece issues to replace the one’s being restructures to have a coupon above 8%. Germany insists the coupon be below 4%, according to Dow Jones. Wither we’re in two different universes of there is a deal to be done at 6%. Well just have to wait and see.

That’ll get the Brits to sign on to your silly IMF end-run, Herr Fuchs.

Big rise in trade deficit will have played a part. The firm sees Q1 growth of 2.0%.

He sees a Greek recovery in 2013 Greece’s future is in the European Union and in the euro (would you settle for one out of two?) Germany is Greece’s most important export market

Lalalalalala! I can’t hear you! Lalalalalala!