The news that S&P finally pulled the trigger by cutting America's long-term credit rating from AAA to AA+ will surely rock the financial markets when they open on Monday. But any spike in Treasury...

If the recent financial market moves are sustained, the net effect could be to reduce annualised GDP growth by around 0.5%. That would not tip the US into recession. But it supports our long-held view...

We now expect the US economy to grow by just 2% this year, down from our previous forecast of 2.5%. Growth in 2012 is unlikely to be any better. This downward revision has nothing to do with the...

Even if the politicians finally get their act together and agree a deficit reduction package, the resulting spending cuts may not be large enough to appease the credit rating agencies. As such, we...