Farcaster

Moody's Ratings downgraded the U.S. national credit rating by one place, from Aaa (the highest possible level) to Aa1 (2nd highest level), on the grounds of the growing burden on financing federal budget deficits and rising debt maturity costs in the context of high interest rates.

Although Aa1 is still in the best credit rating group, it is the second highest rating on the Moody's scale. However, being downgraded may cause US government bond interest rates to increase. Specifically, the 10-year US government bond yield increased by 3 basis points, to 4.48% in the after-hours trading session.

And this is definitely not what President Trump wants.