Italian 10 year govt bond yield 5.905%, off 29 bps
According to Sky News
Moody’s will publish it’s assessment of UK banks including HSBC, Barclays and RBS after the NY close this evening
Talk is that Moody’s will announce downgrades of large global banks after the close US markets this afternoon.
Downgrades are expected but the depth of the downgrades remains a wildcard. For example, Morgan Stanley has been trying to ward off a potential three-notch cut.
Will it be Helicopter Ben, the guy who’s never passed a printing press without hitting the “on” switch or the reticent Ben Bernanke who addressed the Joint Economic Committee of Congress several weeks ago? That Bernanke indicated he was in no hurry to ease as he was unsure that the spring slowdown in the US was just payback for a warmer-than-average winter.
Given his last public utterance was one of restraint, if you put a gun to my head, I’d say he wants to wait and see.