Director of Quantitative Research Denise Chisholm joins us once again on the program to discuss credit rating agency's Fitch’s downgrade of the US government credit rating, and how it plays into the ongoing inflation story.  Denise says that valuation spreads remain wide in the equity market and are resting at the exact same levels as they were during the trough of correction after the 2011 debt downgrade, a historical pattern that points to the ability of markets to shrug off current uncertainty.  Denise also explains to host Pamela Ritchie that in some ways the debt story is related to the inflation story, with the debt to GDP ratio markedly higher on the government side than on the consumer side.

Recorded on August 3, 2023.

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