Moody, dow and credit rating
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Moody, America and downgrade
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"Crypto is loving the Moody’s downgrade: Bitcoin is now 4% away from a new all time high and up over +40% since its April low. As the US Dollar weakens and uncertainty rises, Bitcoin and Gold are thriving. Instability is Bitcoin’s best friend," wrote the analysts at Kobeissi Letter.
American markets fell to open the week Monday, reacting to Saturday's news that Moody's Ratings was downgrading U.S. debt.
Tracy and Joe disagree
Markets rallied last week, but Moody’s U.S. credit downgrade, rising bond yields, and tariff concerns now pressure equities. Retail earnings and sentiment data loom large.
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Treasurys remained under pressure, pushing up yields, after Moody's appeared to surprise traders late Friday by stripping the U.S. government of its last remaining triple-A credit rating. But a look at credit default swaps,
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U.S. futures fell after Moody’s Ratings downgraded the sovereign credit rating for the United States because of its failure to stem a rising tide of debt.
Moody's cut the U.S. credit rating one notch to Aa1 from Aaa due to the federal government's ballooning budget deficit and soaring interest payments.
A dip in the stock market caused by the Moody’s downgrade of the U.S. debt should be bought, according to a once-pessimistic and now seemingly bullish strategist.