Episode Details

Moody’s just stripped the U.S. of its last remaining Aaa credit rating. But what does it actually mean for markets? Jeff D’Auria shares why the downgrade to Aa1 shouldn’t come as a surprise and, despite symbolic headlines, fundamentals and positioning tell a more nuanced story.

With technicals strong and institutional demand holding steady, the bigger story may be how yield curve dynamics evolve amid ongoing policy uncertainty.