Fitch cuts US credit rating to AA+; Treasury calls it ‘arbitrary’

Fitch cuts US credit rating to AA+; Treasury calls it ‘arbitrary’

Rating agency Fitch on Tuesday downgraded the U.S. government’s top credit rating, a move that drew an angry response from the White House and surprised investors, coming despite the resolution of the debt ceiling crisis two months ago. Fitch downgraded the United States to AA+ from AAA, citing fiscal deterioration over the next three years … Read more

Russian oil price cap will give buyers leverage: US official

Russian oil price cap will give buyers leverage: US official

A price cap that Group of Seven (G7) countries want to impose on Russian oil will provide buyers with leverage to get better prices, a U.S. Treasury official said on Wednesday. The United States has held “positive dialogue” with China and India, two major importers of Russian crude, Ben Harris, assistant secretary for economic policy … Read more

Bond Market | Bond Market Crash: Why bond market crash is actually good news for most investors

Bond Market | Bond Market Crash: Why bond market crash is actually good news for most investors

The Bloomberg Global Aggregate Index, a benchmark for the bond market worldwide, has tumbled 11% from its peak in January 2021, equating to a drop of $2.6 trillion in the index’s market value. Bloomberg News describes this as an unprecedented loss in the long history of the bond market. Big capital losses are always bad … Read more

Janet Yellen’s next test: Persuading G20 that U.S. Congress will not block tax deal

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U.S. Treasury Secretary Janet Yellen was able to help corral 130 countries to agree to a major revamp of international corporate taxation, but showing them she can bring a deeply divided U.S. Congress on board may prove equally challenging. Yellen is expected to face questions from G20 finance leaders at a meeting in Venice, Italy, … Read more