CNBC: Fears of A U.S. Credit Downgrade

Seems the fear of a U.S. downgrade just won’t go away. CNBC’s Bob Pisani late Tuesday offered up a bit of trading floor gossip that bond desks were chattering away about a Moody’s note that says the proposed Obama budget is a “good start” to deleveraging the Fed balance sheet, but that:

“Unless further measures are taken to reduce the budget deficit further or the economy rebounds more vigorously than expected, the federal financial picture as presented in the projections for the next decade will at some point put pressure on the Aaa government bond rating.”