Sovereign Debt Stress

Dated events

1. Aug. 5, 2011 · S&P downgrades US credit rating to AA+ after debt ceiling standoff
   The US government nearly ran out of money because Congress couldn't agree on raising the borrowing limit. Standard & Poor's, a major credit rating agency, downgraded US government debt for the first time in history, causing widespread concern about the safety of US bonds.
2. July 26, 2012 · ECB's Draghi pledges to do 'whatever it takes' to preserve the euro
   European countries faced a debt crisis as investors worried some governments couldn't pay their debts. The European Central Bank's leader promised to do whatever necessary to support the euro, which calmed markets but highlighted how serious the crisis had become.
3. Oct. 16, 2013 · Congress passes deal ending 16-day shutdown and suspending debt ceiling
   Congress again failed to agree on government spending, forcing a 16-day partial shutdown. Combined with another debt ceiling fight, this created uncertainty about whether the US would pay its bills. On this day Congress passed a deal that reopened the government and suspended the borrowing limit until February.
4. Sept. 28, 2022 · Bank of England steps in to buy gilts after UK mini-budget sell-off
   The UK government announced large tax cuts without explaining how to pay for them, causing investors to lose confidence in British government bonds. Prices of these bonds fell sharply, and the Bank of England had to step in to prevent a broader financial crisis.

Assets named in this scenario · 19

Banco BPMBanco SabadellBanco SantanderBBVABitcoin (BTC)BNP ParibasCaixaBankCommerzbankCrédit AgricoleDeutsche BankEnel SpAEuro (EUR)Gold · Gold FuturesIntesa Sanpaolo S.p.A.iShares 20+ Year Treasury Bond ETFMediobancaSociété GénéraleSPDR S&P 500 ETF TrustUniCredit S.p.A.

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