Fitch warns France's rating is in danger if crisis extends

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Source: Marketwatch
© Scanpix/AP

On Wednesday Fitch announced that France's AAA credit rating is exposed to downgrading if euro debt crisis will result in sharper downturn in the country. Rating agency predicted France will need extra budget consolidation measures to reach target 3% GDP deficit in 2013. However, Fitch also admitted that French triple-A rating is supported by diversified economy and stable tax system.

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Wed, 23 Nov 2011 14:31:32 GMT

US: demand for durables decreases

Orders for durable goods in US decreased by 0.7% in October; the sector was mainly affected by a fall in commercial transportation. However, the decrease is lower than expected as the forecast was 1.5% decline. Bookings for transportation devices, extremely volatile sector, were down by 4.8% while orders for aircraft fell by 16.4%.

Wed, 23 Nov 2011 14:09:22 GMT

German bond auction signals deepening crisis

The sale of German 10-year notes worth €6 bn attracted bids worth only €3.889 bn. Bundesbank was forced to pick up remaining €2.356 bn. According to Nick Stamenkovic, RIA Capital's fixed-income economist, the poor auction indicates that investors are turning away from Eurozone. Germany's 10-year yields increased by 12 bp reaching 2% in the secondary market.

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