Sovereign Ratings: AAA Edition

For those who are (inexplicably) shaken by S&P’s downgrade of the United States last week, and who only want to own debt of sovereigns with AAA ratings, here you go:

And don’t feel bad if Guernsey sends you to the CIA Factbook…it sent me there, too.

In finishing this up, I’ll note that the 10-yr US Treasury is ripping this morning, trading as I write at 2.40%.  I guess the talk around the water coolers at S&P must be something like:  “WTF?  Don’t they believe us?”  Answer:  No, S&P, we don’t.  And thanks for all your help circa 2005-2008 enabling the crisis in the first place.  That won’t soon be forgotten.  Nor will the defense of Lehman right up until the end.

Adding:  No comment about S&P is complete without mentioning their complicity in rating GS’s Abacus deal AAA.

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