Moodys downgraded US credit rating
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Moody’s Investors Service downgraded the U.S. sovereign credit rating from Aaa to Aa1, marking the first time all three major credit rating agencies—Moody’s, S&P, and Fitch—have rated U.S. debt below the top tier.
Yields in the Treasury market are rising, threatening to make it more expensive for consumers and the U.S. to manage debt.
Treasury Secretary Scott Bessent downplayed the U.S. credit downgrade as a "lagging indicator" of economic and fiscal conditions, after Moody's took the U.S. off its top tier.
Moody’s downgrades the U.S. credit rating for the first time since 1919, citing rising debt. Crypto markets react with Bitcoin and Ethereum slipping as investors weigh broader economic risks.
The yield on both 10 and 30-year government bonds rose on Monday after another credit ratings agency downgraded the US on Friday.