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Rogoff Sees World Wishing It’s America Year After S&P Downgrade

U.S. debt appears to be the global safe haven, even after S&P downgrade.

By Rich Miller, Inyoung Hwang and Charles Mead | Updated on August 06, 2012

Aug. 6 (Bloomberg) — Global investors can’t get enough American securities a year after Standard & Poor’s Corp. downgraded U.S. government debt.

The dollar has outperformed its peers in the past 12 months, rising by 10 percent against a basket of six currencies. U.S. stocks have been the best performing equity market in terms of dollars, with the Dow Jones Industrial Average advancing 14 percent. Treasuries also have done better since the S&P action late on Aug. 5, 2011, returning 6.7 percent to investors compared with 6.1 percent for other government bonds.

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