Quote on Fitch downgrades US credit rating to AA+ & impact on Indian Markets from Dr. V K Vijayakumar, Geojit Financial Services
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Below the Quote on Quote on Fitch downgrades US credit rating to AA+ & impact on Indian Markets from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
The downgrade of the US credit rating by a notch is sentiment negative for global markets. The US 10-year bond yield spiking above 4% and the dollar index rising to 102 are near-term negative for emerging markets. But it is important to note that the downgrade doesn’t say anything that the market doesn’t know. So, the negative knee jerk reaction will be short lived. Globally equity markets have been rising on the US economy’s soft landing narrative. The downgrade doesn’t alter that.
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