The usual array of suspects is being cited:
Moody’s downgraded the U.S. sovereign credit rating from Aaa to Aa1, citing concerns over rising federal debt and persistent fiscal deficits. It may yet have further US bond market implications.
Trump's proposed tax bill. The bill is projected to increase the national debt by $3 to $5 trillion, raising concerns about fiscal irresponsibility and adding pressure on the dollar. It seems 'progress' is being made.
Ongoing trade tensions, including potential new tariffs and discussions at the G7 finance ministers meeting, have created additional uncertainty.
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