{"id":5244,"date":"2025-05-19T19:52:47","date_gmt":"2025-05-20T02:52:47","guid":{"rendered":"https:\/\/abovecloud.xyz\/?p=5244"},"modified":"2025-05-19T19:53:18","modified_gmt":"2025-05-20T02:53:18","slug":"markets-wbble-on-concerns-aboutus-debt","status":"publish","type":"post","link":"https:\/\/abovecloud.xyz\/?p=5244","title":{"rendered":"Markets Wbble on Concerns AboutUS. Debt"},"content":{"rendered":"\n

Stocks slid, the dollar slipped and bond yields jumped in early trading on Monday but recovered by the afternoon.
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Turbulent trading hit financial markets on Monday, with U.S. stocks, bonds and the dollar sliding in morning trading and rebounding by the afternoon, as nervy investors appeared sensitive to the latest wrangling over the government\u2019s budget.<\/p>\n\n\n\n

After an early decline, the S&P 500 index recovered to trade roughly flat in the afternoon, ending the day 0.1 percent higher. Bond markets also shuddered, with U.S. Treasury prices falling and their yields, which underpin interest rates across the economy, rising in morning trading before retracing their steps later in the day. The yield on 10-year Treasuries nudged lower to just under 4.5 percent. The dollar also regained some ground but a gauge of its value against other major currencies remained 0.7 percent lower.<\/p>\n\n\n\n

One factor jarring markets is a bill in Congress that would make President Trump\u2019s signature 2017 tax cuts permanent and could add trillions of dollars to federal debt. A House committee voted to approve the bill<\/a> Sunday night, although it was expected to remain a focus of contentious congressional debate.<\/p>\n\n\n\n

Alongside some lawmakers\u2019 misgivings that the bill failed to materially cut the deficit, markets soothed on Monday, amid early signs of potential progress on negotiations to further rein in spending.

The United States\u2019 loss of its\u00a0last triple-A credit rating<\/a>\u00a0late on Friday and mounting concerns about government debt have threatened to disrupt the relative calm in markets that has prevailed since Mr. Trump paused many of his tariffs in recent weeks.

In downgrading the U.S. credit rating, Moody\u2019s cited the tax cut legislation along with broader concerns about the fiscal deficit and growing debt costs. The move by Moody\u2019s means that all three major rating agencies no longer consider the United States qualified for their top credit ratings.<\/p>\n\n\n\n

The worries about debt and deficits could further upset financial markets if they begin to shake the safe-haven status of Treasury bonds. That would likely spur global investors to demand higher premiums in return for buying U.S. debt.<\/p>\n\n\n\n

On Monday, the 30-year Treasury yield rose to its highest level in a year and a half, briefly trading above 5 percent, before ending the day slightly lower.<\/p>\n\n\n\n

\u201cThe combination of diminished appetite to buy U.S. assets and the rigidity of a U.S. fiscal process that locks in very high deficits is what is making the market very nervous,\u201d George Saravelos, the global head of foreign exchange research at Deutsche Bank, wrote in a note on Monday.

Following Moody\u2019s downgrade of the U.S. credit rating on Friday, the rating agency also downgraded the ratings of some of the nation\u2019s largest banks, noting that the government\u2019s downgrade \u201cindicates that its ability to support the U.S.\u2019s global systemically important banks has weakened.\u201d

Anxious investors on Monday also pushed up the price of gold, long a refuge during times of market stress, by about 0.9 percent.<\/p>\n\n\n\n

In recent days, analysts at Goldman Sachs and JPMorgan Chase have raised their forecasts for how high U.S. yields will go this year. The analysts said that the pause on the steepest tariffs would help bolster economic growth and also keep inflation running high enough to keep the Federal Reserve from cutting interest rates as soon or as deeply as previously predicted.<\/p>\n\n\n\n

Raphael Bostic, the president of the Federal Reserve Bank of Atlanta, said Monday that the Moody\u2019s downgrade would \u201chave implications for the cost of capital and a bunch of other things.\u201d In an appearance on CNBC, Mr. Bostic noted that \u201cthere\u2019s a lot of turbulence that\u2019s happening right now.\u201d<\/p>\n\n\n\n

Higher rates tend to push up the value of the U.S. dollar, but the currency slid on Monday against the euro, yen and others. That suggested investors may be turning against the United States in general, an echo of the market turmoil last month when spiking yields, falling stocks and a sinking dollar raised questions about\u00a0the \u201csafe haven\u201d status of U.S. assets<\/a>.

That episode prompted Mr. Trump to pause<\/a> so-called reciprocal tariffs, even though he and his advisers had previously dismissed other signs of market unease as they pushed ahead with sweeping tariffs.<\/p>\n\n\n\n

The levies have loomed over recent earnings reports from multinational companies. Last week, Walmart said that it would soon begin to raise some of its prices, since it could not \u201cabsorb\u201d the full cost of tariffs on the goods it imported. Mr. Trump scolded the retail giant on Saturday, saying in a social media post that it should keep prices down and \u201cEAT THE TARIFFS<\/a>.\u201d<\/p>\n\n\n\n

Walmart\u2019s stock stumbled in early trading on Monday, losing about 2 percent at its lowest point, before recovering to trade slightly down on the day.<\/p>\n\n\n\n

Reprinted from the New York Times<\/p>\n","protected":false},"excerpt":{"rendered":"

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