Investors have been questioning the sustainability of Japan's debt for months, but Standard & Poor's issued its first formal declaration of concern Tuesday. The credit rating agency threatened to downgrade the sovereign debt of Japan unless authorities can bolster the economy while curtailing public spending. "It's a warning shot across the bows of the Japanese government. They may or may not pay attention; what is clear is that they can't spend money at will," said John Vail, chief global strategist at Nikko Asset Management.
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