Autumn Sets In
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Market Flash
After a relatively stable week, market declines resumed amid persistent concerns over Italy, economic growth sustainability, central bank policy trends and company earnings. As expected, Moody's downgraded Italy over the weekend but stopped short of pushing it into high yield territory and maintained its stable outlook. The European Commission rejected Rome’s budget proposals and Italian spreads widened against the German Bund. Investors are now waiting to see how other rating agencies like S&P and Fitch react.
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