It's all over, apparently. At least according to independent trader Alessio Rastani:
It was pretty astonishing to see a BBC presenter utterly fazed. But that's what happens when people tell the bald truth.
By that I don't mean, This will come to pass (though it might), but that someone finally said exactly what he was thinking: I'm going to get rich while you fuckers burn. Refreshing, in a Check the supplies for apocalypse kind of way.
I'm already guessing that a bunch o' people will say he's an anti-semitic lunatic (and of course he could be, but I don't think that's what this is about). I'm guessing that he's dreamed of this kind of platform for years, that he was so ready, that he'll make a zillion dollars from the panic (but that doesn't make him wrong). I'm guessing, too, that his doctor is frantically calling his pharmacy and saying, "I said two milligrams, two, not twenty!"
Wow. I'm blinking. The look on that BBC presenter's face...
ETA: For a nifty primer on bond and Euro markets and how they relate to the recent downgrade of the US credit rating, see this video explanation. (Thanks, Georgi.)
More ETA: Look, I know this is naked self-interest on the trader's part. The astonishing thing to me, what makes it noteworthy, is that some producer/editor at the BBC was asleep at the switch and let this self-serving (and very probably manic-phase) bit of sensationalism past. That's all. :: rolls eyes ::