The country of Hungary had its debt dropped to junk status today.<\/p>\n
Italy’s 6 month bill sale was a disaster, following on the heels of Germany’s failure to sell its bonds.\u00a0\u00a0\u00a0 Italy had to pay over 7%,\u00a0 more than double what they have been paying.\u00a0\u00a0\u00a0 Their 10 year bond is now at 7.3%, well above the 7% that people were using as the benchmark of when to have serious worries about a country’s debt.<\/p>\n
In fact, interest rates on government debt for almost every country is zooming up today (the price of the bonds is falling).\u00a0\u00a0\u00a0 Last person out the exit door loses.<\/p>\n","protected":false},"excerpt":{"rendered":"
The country of Hungary had its debt dropped to junk status today. Italy’s 6 month bill sale was a disaster, following on the heels of Germany’s failure to sell its bonds.\u00a0\u00a0\u00a0 Italy had to pay over 7%,\u00a0 more than double … Continue reading