‘Sell America’ Trade Returns After Moody’s Downgrade

Good morning. Moody’s dim view of US debt reverberates through markets. There’s no respite for New Jersey commuters (yet.) And Americans wanting to escape the turmoil find fewer places to go. Listen to the day’s top stories.

Brace for a bumpy start to the trading week after that downgrade of American debt by ratings company Moody’s on Friday evening. Longer-dated Treasury yields climbed to the psychological 5% level and stock futures slid with the dollar as the “sell America” trade found fresh wind. Our markets specialists explain why it matters.