Bond yields rose and the dollar weakened as Trump administration tries to play down significance of setback
News that the US has lost its last triple-A credit rating and fresh concern over the US federal government’s burgeoning debt pile unnerved markets on Monday, with long-term borrowing costs rising and stocks struggling.
Credit ratings agency Moody’s dealt a blow to Washington on Friday when it stripped the US of its top-notch rating, downgrading the world’s largest economy by one notch to AA1 and become becoming the last of the big three agencies to drop its triple-A rating for the US.
