Wall Street Breakfast: Must-Know News
Wall Street Breakfast Editors submit:
By Yigal Grayeff and the Market Currents team
Fitch warns on U.S. rating as debt tops 100% of GDP. Fitch has again warned that rising U.S. debt is not consistent with maintaining a AAA rating, but said it probably will not reach a decision on a downgrade before 2013. Fitch said at least $3.5T of further deficit reduction measures will be needed to bring debt down to 90% by the second half of the decade. The warning comes as Zero Hedge calculates that U.S. debt now exceeds 100% of GDP. Yahoo mulls sale of Asian ops in $17B deal. Yahoo’s (YHOO) board is expected to meet today to discuss selling its holdings in Alibaba and its Japanese affiliate back to their owners in a tricky tax-free deal valued at $17B, The New York Times reports. Given Yahoo's $19.8B market cap, the company's core U.S. ops could be worth only aboutComplete Story »
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