The article looks at how bond prices for countries can differ from their credit ratings. When bond prices are much higher than expected, they usually go down a month later instead of the country's credit rating getting worse. On the other hand, when bond prices are much lower than expected, the country's credit rating tends to go up three months later. This shows that sometimes the market and credit rating agencies don't agree on how risky a country's bonds are. This can be a sign that more analysis is needed to understand the situation better. For example, before the Asian crisis, many emerging markets had lower bond prices than expected.