At the very last minute, the US increased the debt ceiling, averting a default. It's not so clear the US will avoid a downgrade of its debt rating. The markets weren't overly impressed by the resolution: on August 2, the Dow posted its 8th consecutive day of losses, dropping 2.19%. The Nasdaq and S&P 500 didn't do any better, falling 2.75% and 2.56%, respectively. In Mexico, the peso weakened 0.12% against Monday and the IPC dropping 2.56% in pesos.
Obviously, it's going to take more substantive efforts to confront the twin dangers of a weak economy and unsustainable deficit to re-establish faith in the US as a triple A player.
Obviously, it's going to take more substantive efforts to confront the twin dangers of a weak economy and unsustainable deficit to re-establish faith in the US as a triple A player.
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