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Agency says U.S. Aaa rating is vulnerable unless lawmakers address deficit.
Investors will take a big hit from lower interest rates, Deutsche Bank says.
"Long-end exposed to a lot more risk," Pimco's El-Erian says
"Long-end exposed to a lot more risk," Pimco's El-Erian says
Spains rating lowered three notches, to Baa3, on growing debt burden.
Ratings agency says second downgrade reflects nations debt burden.
Worst credit market sell-off since 2010 suggests long bull market may be ending.