Moody's turns gloomy on sovereign credit

``The outlook for global sovereign ratings is negative possibly until 2018 amid expectations for low economic growth and high public-sector debt, according to Moody's Investors Service. Around 26%, or 35 out of 134 sovereigns, currently have a negative outlook, marking the largest proportion since late 2012 during the European debt crisis. Meanwhile, a two-day thumping has wiped out more than $1T across global bond markets worldwide, on bets that a Trump administration would boost spending and fire up inflation.''