The Japanese government today expressed confidence in the bonds issued by the U.S. Treasury Department after Standard & Poor's downgraded to "negative" rating outlook debt of that country. Japanese Finance Minister, Yoshihiko Noda, said that "basically" continues to believe that the bonds of U.S. government "is an attractive product," according to local news agency Kyodo.
Japan has some of its foreign reserves in dollar assets and U.S. Treasuries.
"The United States is taking action on the fiscal front," said the minister Noda also in a press conference.
Yesterday, Standard & Poor's maintained the AAA rating for U.S. debt, but warned that there is at least a 33 percent chance that in two years may reduce it and made it "negative" outlook for the rating of its debt.
The Nikkei index of Tokyo stock exchange opened today with a sharp drop after other parks such as London, Milan and Madrid closed on Monday in announcing losses from the credit rating agency. EFE
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