S&P Gets No Respect in Market With Lower Yields After Downgrades

Investors are again downgrading the decision-making of Standard & Poor’s.

Less than a week after the New York-based company cut its ratings of nine countries including France, the French 10-year bond is little changed at 3.08 percent and borrowing costs fell this week at the country’s sale of 8.59 billion euros ($11 billion) in bills. Spain, whose rating was lowered by two levels to A, sold debt at half the interest rate of a month ago.