‘Sell America' Is Back as Moody's Pushes 30-Year Yield to 5%
Investors faced yet another bumpy start to the trading week with US assets coming under fresh pressure, although it's mounting concern over American debt rather than tariffs generating the volatility this time.
Longer-dated Treasury yields rose to touch the psychological 5% level and US equity futures slid with the dollar in Asia trading after Moody's Ratings announced Friday evening it was stripping the American government of its top credit rating, dropping the country to Aa1 from Aaa. The company, which trailed rivals, blamed successive presidents and congressional lawmakers for a ballooning budget deficit it said showed little sign of narrowing.
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