Moody, Treasury and stocks
Digest more
The yield on both 10 and 30-year government bonds rose on Monday after another credit ratings agency downgraded the US on Friday.
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.
American markets fell to open the week Monday, reacting to Saturday's news that Moody's Ratings was downgrading U.S. debt.
Treasurys remained under pressure, pushing up yields, after Moody's appeared to surprise traders late Friday by stripping the U.S. government of its last remaining triple-A credit rating. But a look at credit default swaps,
Tracy and Joe disagree
Explore more
Gold prices drifted higher on Monday, steered by a softer dollar and safe-haven demand after Moody's downgraded the U.S. government's credit rating. Spot gold rose 0.9% to $3,229.51 an ounce by 1315 ET (1715 GMT).
White House National Economic Council Director Kevin Hassett criticized Moody’s Ratings over its decision to lower the US credit rating, calling the move backward-looking and saying the Trump administration is committed to lowering federal spending.