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US Capitol building
Caution tape blows in the wind on the east front plaza of the U.S. Capitol Building on September 27, 2023 in Washington, DC. House Speaker Kevin McCarthy (R-CA) continues to have difficulty finding a legislative path that would prevent the federal government from partially shutting down at midnight on September 30 and would also not jeopardize his speakership.

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  • Fitch Rating's US downgrade in August has dramatically shifted the debt market's composition.
  • With the US now rated AA+, the amount of outstanding AAA sovereign debt shrank 85% to about $5 trillion.
  • Meanwhile, speculative-grade sovereign debt was little changed at about $6.1 trillion.

Fitch Ratings' credit downgrade of US debt in August has shifted the bond market's composition, putting junk bonds in the lead.

Tags
Markets, mi-exclusive, governments, fitch-ratings, Debt, junk-bonds, Bonds, sovereign-bonds, credit-rating
Source
US credit downgrade means junk sovereign bonds now outweigh AAA debt for the fi…