Reported about 22 hours ago
Moody's has downgraded the US government's credit rating from Aaa to Aa1, pushing 30-year Treasury yields above the psychological 5% mark. This downgrade raises concerns over the US debt and could complicate economic stability as lawmakers continue to propose unfunded tax cuts amidst a growing budget deficit, set to reach nearly 9% of GDP by 2035. Market responses include a decline in S&P 500 futures and skepticism regarding the dollar's strength, as investors assess the implications of rising Treasury yields on the financial landscape.
Source: YAHOO