The news triggered a US bond sell-off on Monday. US 30-Year Treasury yields, the ones with the longest maturity date issued by the US Department of the Treasury, spiked to 5%, very close to the 5.08% multi-decade high they reached in October 2023, before retreating somewhat and closing at 4.91%.

U.S. stocks are drifting lower and U.S. bonds are falling more sharply following the latest reminder that the U.S. government seems to be hurtling toward an unsustainable mountain of debt.

Billionaire Ray Dalio weighed in on Moody’s recent downgrade of the U.S. creditworthiness, claiming the move understates the risk of government debt.  Moody’s dropped the country from its

Moody's lowered the US triple-A credit rating on Friday, citing rising federal debt and interest costs.