..this has also made US debt more costly to raise and...

..this has also made US debt more costly to raise and re-finance.

..so perhaps this was the driver for the rise in US long term yields.

..interestingly, US 10yr yield which had declined from > 4,50pc level to below 4.40pc started rising again in late session to 4.44pc.

..this is the first-ever U.S. credit downgrade in the Moody agency’s history, so it is a rather big deal.

OUCH! The US was stripped of its last top-tier credit AAA rating on Friday after Moody’s Ratings downgraded the nation from Aaa to Aa1 on an increase in govt debt and a higher interest burden.
https://x.com/Schuldensuehner/status/1923503502782783748

China slashed its U.S. Treasury holdings in March.
The UK is now the second-largest holder.
The trend is very real. China is selling Treasuries and buying gold.
https://x.com/GoldTelegraph_/status/1923537377886110074

...there hasn't been any comments so far from POTUS on this momentous downgrade. Instead we got this:
...you'd think there is nothing the matter with this personality?
https://x.com/gtconway3d/status/1923379302097113205