beautiful logic

Although the S&P downgraded US sovereign rating from phony AAA to equally phony AA+, apparently this downgrade had no effect on "investors" whatsoever.

As the Los Angeles Times wrote today
"Investors piled out of stocks and into a few "safe havens," such as gold and (US) Treasury bonds. The appetite for Treasury bonds suggests that the Standard & Poor's downgrade has not shaken investors' faith in U.S.
bonds.

In the meantime S&P itself claims that
"S&P Says U.S. Downgrade Doesn’t Affect AAA Rated J&J, Microsoft"
While for years we've been told that no company can have its rating higher or better than that of the sovereign rating of the nation in which it is domiciled.

Magic things happen.