Sovereign Woes Remain amid Political Chaos, Downgrade Risks

Bullish sentiment after Ireland formally applied for external funding proved to be short-lived. Investors turned risk-averse again later in the day as Moody's warned that it may downgrade the country's credit rating by multiple notches and the Green Party called for a general election in January. Worries about contagion remained with Spanish and Portuguese CDS widening. Oil prices fluctuated a lot. The front-month contract for WTI crude oil recovered to 82.87 ahead of the US session.

Original post: 
Sovereign Woes Remain amid Political Chaos, Downgrade Risks