S&P downgrade, one year on.

Yesterday marked one year since S&P cut the U.S.'s AAA rating to AA. Since then, Treasury prices have soared as U.S. debt has anyway become a safe haven from the dysfunction that is the eurozone, with 10-year bonds yielding 1.575% late Friday vs. 2.4% prior to the downgrade. The S&P 500 closed at 1,390.99, up from 1345.02 on July 22, 2011.