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!@#$%! · 08.02.2023, 11:16 AM

from the financial times:

US government debt on Wednesday shrugged off Fitch Ratings’ unexpected decision to downgrade Washington’s top-tier sovereign debt rating, while stocks were hit with fresh declines.

Treasuries rallied in early trade, before giving up their gains after the US government announced plans to boost its issuance of long-term debt this quarter. Ten-year Treasury yields were 0.04 percentage points higher at 4.08 per cent early in the US morning, having earlier fallen slightly. Yields rise as prices fall.

In stock markets, Wall Street’s benchmark S&P 500 declines 0.8 per cent at the New York opening bell, extending losses from the previous session, while the tech-focused Nasdaq Composite gave up 1.2 per cent.

The moves came after Fitch cut the US credit rating from triple A to double A plus after markets closed on Tuesday, citing a mounting government debt burden and the debt ceiling stand-off two months ago that brought the world’s largest economy close to a default.

Investors said the muted reaction of Treasuries reflected the fact that funds were unlikely to be forced to sell US debt as a result of the downgrade. Meanwhile, Fitch’s announcement helped fuel a global equity sell-off.

etc etc...

if no ft lik see here: https://www.reuters.com/markets/us/f...ch-2023-08-01/

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additionally, reuters reports a fitch official confirmed that january 6 riots and a "deterioration in governance" are partly behind the downgrade:

https://www.reuters.com/markets/us/f...on-2023-08-02/

08.02.2023, 11:16 AM	#971
!@#$%! invito al cielo Join Date: Mar 2006 Location: mars attacks Posts: 42,486	from the financial times: US government debt on Wednesday shrugged off Fitch Ratings’ unexpected decision to downgrade Washington’s top-tier sovereign debt rating, while stocks were hit with fresh declines. Treasuries rallied in early trade, before giving up their gains after the US government announced plans to boost its issuance of long-term debt this quarter. Ten-year Treasury yields were 0.04 percentage points higher at 4.08 per cent early in the US morning, having earlier fallen slightly. Yields rise as prices fall. In stock markets, Wall Street’s benchmark S&P 500 declines 0.8 per cent at the New York opening bell, extending losses from the previous session, while the tech-focused Nasdaq Composite gave up 1.2 per cent. The moves came after Fitch cut the US credit rating from triple A to double A plus after markets closed on Tuesday, citing a mounting government debt burden and the debt ceiling stand-off two months ago that brought the world’s largest economy close to a default. Investors said the muted reaction of Treasuries reflected the fact that funds were unlikely to be forced to sell US debt as a result of the downgrade. Meanwhile, Fitch’s announcement helped fuel a global equity sell-off. etc etc... if no ft lik see here: https://www.reuters.com/markets/us/f...ch-2023-08-01/ -- additionally, reuters reports a fitch official confirmed that january 6 riots and a "deterioration in governance" are partly behind the downgrade: https://www.reuters.com/markets/us/f...on-2023-08-02/
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