There is some risk that further downward revisions in global growth could lead to them continuing to trade as higher-risk plays rather than reflecting the superior structural features of their economies.

FORBES: Investment Advice For 2012: Buy Equities, Sell US Treasurys

The reverse movement is a new report by Moody's - which basically says that it misunderstood the inherent structural flaws in the eurozone, and there is a meaningful risk that it will have to downgrade the credit ratings of all eurozone members (even Germany) and possibly some EU members outside the eurozone.

BBC: Are markets betting on IMF bailout of Italy?