Another downgrade looming on US as per the latest report from Pacific Investment Management Co., which runs the world’s largest bond fund.
The sovereign credit rating of the U.S. will be cut as “fiscal theater” plays out in the world’s biggest economy.
The Congressional Budget Office has warned the U.S. economy will fall into recession if $600 billion of government spending cuts and tax increases take place at the start of 2013.
Complete report from Bloomberg [here].
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