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Bonds analysis reveals full impact of financial crisis.

Document Cited in Related
Vincent
PositionINFORM

The global pool of government bonds with AA status from the three main rating agencies, the bedrock of the financial system, has shrunk by more than 60 per cent since the financial crisis began.

The crisis triggered a wave of downgrades across advanced economies, while the expulsion of the US, the UK and France from the "nine-As" club has led to a contraction in the stock of government bonds deemed the safest from almost $11trn at the start of--2007 to just $4tm now, according to analysis by the Financial Times.

The shrinkage has resulted in a drama redrawing of the world credit ratings is encouraging investment flows into markets and forcing investors an regulators to rethink definitions of "safe"...

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