The news triggered a US bond sell-off on Monday. US 30-Year Treasury yields, the ones with the longest maturity date issued by the US Department of the Treasury, spiked to 5%, very close to the 5.08% multi-decade high they reached in October 2023, before retreating somewhat and closing at 4.91%.

Anywhere But USA—was back on the table this morning, as investors digested Moody's markdown of America's credit rating from triple-A, coupled with the forward march of the House's debt-expanding budget bill,

A U.S. sovereign downgrade by Moody's has exacerbated investor worries about a looming debt time-bomb that could spur bond market vigilantes who want to see more fiscal restraint from Washington. The ratings agency cut America's pristine sovereign credit rating by one notch on Friday,