Markets Snap Back, But Moody's Was On to Something
Blink and you missed it. The historic downgrade of US sovereign debt announced Friday night only momentarily interrupted momentum. The S&P 500 rose 0.09% for its sixth consecutive daily gain, while bonds had a good day despite Moody's negative judgment. After an initial selloff, the 10-year Treasury yield closed the day at 4.44%, 3.2 basis points lower for the day.
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an hour ago
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