If you were wondering why fewer and fewer people take credit rating agencies seriously, take a look at this chart.

What happened: Moody's chose not to downgrade France despite a recent spike in its bond spreads, and the post argues the country lacks a sustainable budget. Why it matters: The post says France's 10-year yield now exceeds those of Belgium, Spain, Portugal, Italy, and Greece, all rated lower by Moody's, which the author says shows the agency's model is outdated. Key numbers: France's 10-year government bond yield now exceeds those of Belgium, Spain, Portugal, Italy, and Greece.

Moody's chose not to downgrade France despite a recent spike in its bond spreads, and the post argues the country lacks a sustainable budget.

The post says France's 10-year yield now exceeds those of Belgium, Spain, Portugal, Italy, and Greece, all rated lower by Moody's, which the author says shows the agency's model is outdated. Key numbers: France's 10-year government bond yield now exceeds those of Belgium, Spain, Portugal, Italy, and Greece.