Risk appetite has recovered well in the early part of today’s European session, after major Asian indices all closed the day in the red (Nikkei down -1%, Hang Seng -2% and Shanghai Composite -0.5%). The major overnight headline was that ratings agency Moody’s announced the downgrade of Japan’s sovereign credit rating to AA3, outlook stable; citing the build-up in Japan’s debt since the 2009... ...More...


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