From Triple-A To 'Aah, Whatever'

  • The market began the week trying to digest Friday's post-close downgrade of US credit by Moody's, which cut the government's rating from Aaa to Aa1. Bessent warned that holdout countries could face a return to April 2's “Liberation Day” sky-high rates, while Hassett dangled a more optimistic line: 15 countries are “close” to a deal.