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January 2011

Prospects Daily: Japan's credit rating downgraded by S&P to AA

Global Macroeconomics Team's picture

Important developments today:

1. Treasuries rebound after the latest debt auction

2. S&P knocks Japan’s credit rating down a notch to AA- on deflation and debt

3. Trade is showing evidence of a turnaround in the last months of 2010

4. Generally upbeat indicators for U.S. economy

5. consumer and business sentiment indicators hold prime space in the headlines


Sub-Saharan Africa may stand to gain more international capital flows in coming years

Dilek Aykut's picture

As highlighted in the just-released Global Economic Prospects report, international capital flows to developing countries had a strong recovery in 2010. These flows are projected to rise further in the medium term and much of the increase is expected to be in foreign direct investment (FDI) inflows. Sub-Saharan Africa may have a better chance of receiving international capital flows in this new cycle of capital flows that it did previous ones.

World Bank publishes latest commodity prices: December 2010

John Baffes's picture

Commodity prices (measured in U.S. dollar) surged across the board in December 2010. Energy prices jumped by 6.5%; non-energy prices rallied 4.8%.  Food prices rose by 5.3%; beverages climbed by 4.8%; raw materials prices went up by 5.9%; metals firmed by 6.0%. The US dollar appreciated 3.2% against the euro and appreciated 0.7% against a broad index of currencies.