MARKET COMMENTARY

By
Mortgage and Lending with Amerifirst Financial, Inc.

Italy is the newest target of a Standard and Poors credit rating downgrade.  S&P cited weak economic growth, a fragile government, and rising borrowing costs as reasons they believe reducing the second largest debt in Europe will be very difficult.  Remember how S&P's downgrade of U.S. credit helped spur a period of high market volatility?  This definitely won't help settle European debt crisis worries. 

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Sincerely,

Ryan P. McDonough - Licensed Loan Officer

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