Asset Based Loan

Markets rebound from S & P Statement

Treasuries and the dollar rebounded from Standard & Poors statement that it may downgrade U.S. debt in the next two years due to the countries unsustainable budget deficits and increasing national debt.   Meanwhile, stocks declined.

Moodies investor service has a stable outlook on U.S. debt said that the U.S. budget debate is “positive” for the countries credit.

The chief economist for Bank of Tokyo Mitsubishi stated that the U.S. has the strongest, deepest and most liquid markets in the world and there is no other place to go.  Standard and Poors also stated that unless substantive measures are taken quickly, the U.S. national debt could rise to 84% of Gross domestic product by 2013.

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