Dec 14: Sovereign credibility

There has been some relief in markets on Monday as Abu Dhabi came to Dubai's aid to the tune of $10bn dollars and Greece outlined how it will cut its budget deficit. Attention will now turn to this week's Federal Reserve policy meeting and market reaction. Looking at the recent rise in US bond yields, Jennifer Hughes, senior markets correspondent, warns it's not just smaller economies that must reassure the markets of the credibility of their budget plans.