The yield on both 10 and 30-year government bonds rose on Monday after another credit ratings agency downgraded the US on Friday.

The move came as Republicans seek to approve a large package of tax cuts, spending hikes and safety-net reductions which could add trillions of dollars in U.S. debt.

For a minute there, it looked like the “Sell America” trade was poised to make a comeback on Monday after Moody’s decided to strip the U.S. of its top-tier credit rating late Friday.

Investors largely shrugged off a downgrade of the U.S.'s credit rating in Monday trading as stocks ended the day mostly flat.

If the U.S.’s loss of its final perfect credit rating boosts yields on Treasury debt, it likely would boost the cost of borrowing for both companies and consumers.

Moody resident calls for action as loose dog problem persists

U.S. Treasury Secretary Scott Bessent warned Sunday that some of America’s trading partners could soon face a sharp hike in tariff rates, and dismissed Moody’s downgrade of the U.S. government’s credit rating.