Yun also noted that the impact of mortgage interest rates falling to near 50-year lows in December is not reflected in the current data.

FORBES

We think the U.S. slowdown and global credit market disruptions will pressure earnings, equity prices, commodities and foreign growth more than is reflected in the current consensus.

FORBES: Third Quarter Strength, Stagflation Ahead

The ratings agency put the banks on review in June for fear that the possibility of a Greek default was not adequately reflected in their current grade.

FORBES: Germany Lays Out Pool Towels As Greece Bathes European Banks In The Red