Spain downgraded by S&P
NEW YORK (CNNMoney) — Standard & Poor’s downgraded Spain’s credit rating by two notches on Thursday, the latest sign Europe’s debt crisis is once again gathering force. S&P said the downgrade, from A to BBB+, “reflects our view of mounting … Continue reading
The Chinese yuan now looks close to its fair value
At its peak, of over 10% of GDP in 2007, China’s current-account surplus offered firm proof that the yuan was undervalued. The evidence is much less conclusive now. China’s currency is 30% stronger in real trade-weighted terms than in 2005, … Continue reading