Moodys downgrades JPM, BofA and Wells Fargo
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An economist explains why the recent credit rating downgrades for major U.S. banks might not carry a big impact.
The municipal bond market Monday shrugged off Moody's Investors Service's late-Friday downgrade of the U.S. sovereign rating but investors warned the downgrade adds a future pain point for municipal credits along with higher rates and a large tax and spending bill winding its way through Congress.
Long-term US borrowing costs surged to their highest level since late 2023 on Monday, as a fresh downgrade of the country’s credit rating and new fiscal legislation pushed bond markets into retreat and revived investor concerns over the sustainability of American debt, the Financial Times reported.
Move due to mounting concern over American debt rather than tariffs. Read more at straitstimes.com. Read more at straitstimes.com.
Moody’s decision to lower the rating on ... global fixed-income strategist at Wells Fargo Investment Institute, in a phone interview Monday. But while “knee-jerk” reactions pushed Treasury ...