Bassanese Bites: Debt downgrade – August 07 2023
Global markets
After a strong run in recent weeks, US stocks pulled back last week due to a sharp rise in bond yields which, in turn, reflected the Fitch credit downgrade and official plans for higher US long-term public debt issuance. The US July payrolls report, meanwhile, showed moderating employment gains yet a still very low unemployment rate and firm wage growth.
