While neither the stock market nor bond credit rating business are the economy, changes in the stock market and bond credit ratings are often harbingers. “Moody’s announced Friday evening it was lowering the US score to Aa1 from Aaa. A gauge of the greenback fell 0.6%, US stock futures slid and Treasuries’ yield curve steepened […]

Moody’s had always assumed banks and their securities were “Too Big to Fail.” Not any more: Moody’s Investors Service will no longer assume that holders of the securities will benefit from government support to shore up troubled lenders, after the global financial crisis proved this wasn’t the case, Moody’s said in an e-mailed statement today. […]