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In Search of Safe Havens: The Trust Deficit and Risk-free Investments!

Musings on Markets

I was reminded of that paper a few weeks ago, when Fitch downgraded the US, from AAA to AA+, a relatively minor shift, but one with significant psychological consequences for investors in the largest economy in the world, whose currency still dominates global transactions. and the reverse will occur, when risk-free rates drop.

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Data Update 1 for 2021: A (Data) Look Back at a Most Forgettable Year (2020)!

Musings on Markets

First, all value numbers (like market capitalization, debt or revenues) that I aggregate or average will be converted into US dollars to ensure currency consistency. First, all value numbers (like market capitalization, debt or revenues) that I aggregate or average will be converted into US dollars to ensure currency consistency.

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Country Risk: A July 2023 Update!

Musings on Markets

S&P, Moody's and Fitch, in addition to rating companies for default risk, also rate governments, and they rate them both on local currency debt, as well as foreign currency debt.