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United States News
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Title: Dollar, Stocks Slide, Default Risk Rises
Source: Bloomberg
URL Source: http://www.bloomberg.com/news/2011- ... bama-speech-on-debt-limit.html
Published: Jul 26, 2011
Author: Bloomberg
Post Date: 2011-07-26 11:45:56 by go65
Keywords: None
Views: 2105
Comments: 3

The dollar slid to a record low versus the Swiss franc, stocks fell and the cost of insuring U.S. debt rose to a 17-month high as President Barack Obama dueled with House Speaker John Boehner over the U.S. debt limit. Cotton and oil led commodities lower.

The dollar depreciated against all 16 major peers at 10:18 a.m. in New York and dipped below 80 centimes versus the franc. The Standard & Poor’s 500 Index lost 0.4 percent to 1,331.89 and the Stoxx Europe 600 Index fell 0.8 percent. Credit- defaults swaps on U.S. debt increased one basis point to 57 basis points. Crude oil sank 1 percent to $98.20 a barrel.

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#1. To: All (#0)

And somewhere in Washington, John Boehner and Mitch McConnell smile.

Tagline for sale - inquire within

go65  posted on  2011-07-26   11:46:30 ET  Reply   Trace   Private Reply  


#2. To: go65 (#1)

Don't worry, though. We won't even notice when the US goes into default. I've read that here many times in the last few weeks.

Most important of all, it will give the Republicans a great campaign issue to use to achieve the only thing they care about: getting Obama out of the White House.

Skip Intro  posted on  2011-07-26   11:48:57 ET  Reply   Trace   Private Reply  


#3. To: Skip Intro, jwpegler (#2)

Don't worry, though. We won't even notice when the US goes into default. I've read that here many times in the last few weeks.

Yeah, that's what Jwpegler tells us.

Most important of all, it will give the Republicans a great campaign issue to use to achieve the only thing they care about: getting Obama out of the White House.

Yep.

Tagline for sale - inquire within

go65  posted on  2011-07-26   11:49:38 ET  Reply   Trace   Private Reply  


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