Standard & Poor’s downgrade of Japan’s credit rating sent a shudder through markets on Thursday. That was followed, as usual, by the more sober realisation that what rating agencies say about the nation’s creditworthiness is nearly irrelevant. Since Japan sells 94.5 per cent of its debt domestically, what really matters is that the public sector keeps the faith of the private sector. So far, it has done so. Bond auctions continue to be well covered. Yields are rising, but still low.
周四，标准普尔(Standard & Poor)下调日本信用评级的消息曾令市场不寒而栗。与往常一样，稍后人们更清醒地意识到，评级机构对于一个国家信用可靠性的评价几乎是不相干的。由于日本国债有94.5%是在国内销售的，真正重要的是公共部门继续得到私人部门的信任。迄今为止日本在这方面并无问题。债券拍卖继续得到充分认购。收益率虽不断上升，但仍处于低位。
您已阅读24%（661字），剩余76%（2081字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。