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☆ Stocks gain, bonds calm as Fed outlook trumps Moody's downgrade
▼ + stars: | 2023-11-13 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. Tech stocks stood out, as they had in the U.S. at the end of last week, after the calming of long-term Treasury yields since the start of this month boosted the outlook for borrowing-dependent growth shares. The U.S. dollar index hovered below its post-payrolls-report high of 106.01, reached on Friday, last trading little changed around 105.80. "But now, the Treasury market has already priced in a pause, so there's not much room for Treasury yields to fall further," removing a support for the stock market, he added. "In short, I don't think the stock market rally is going to continue."

Persons: Issei Kato, Wall, HSI, Naka Matsuzawa, Kevin Buckland Organizations: REUTERS, Rights, Tech, Federal Reserve, U.S, Japan's Nikkei, Nomura Securities, Treasury, Brent, U.S . West Texas, Thomson Locations: Tokyo, Japan, Asia, U.S, United States, China, Iraq

☆ Dollar firm ahead of US inflation data; yen hovers near one-year low
▼ + stars: | 2023-11-13 | by ( Brigid Riley | ) www.reuters.com time to read: +2 min

The Japanese yen remained vulnerable, hovering not far from a one-year low against the greenback as markets remained on watch for possible intervention by Tokyo. The dollar index , which measures the dollar against a basket of currencies, was last mostly flat at 105.80. There was little relief for the yen, however, which has come under pressure from rising U.S. Treasury yields and continued dollar strength. The Japanese currency was trading around 151.58 yen against the dollar on Monday, just under a one-year low of 151.74 hit at the end of October. Elsewhere, sterling stood at $1.2228 to the dollar, firm ahead of UK average weekly earnings data on Tuesday and a CPI reading on Wednesday.

Persons: Dado Ruvic, Jerome Powell, Lenny Jin, Jin, Moody's, Tony Sycamore, Brigid Riley, Shri Navaratnam Organizations: REUTERS, Rights, Federal Reserve, greenback, Global FX, HSBC, U.S, CPI, Treasury, IG, Bank of Japan, Thomson Locations: United States, Tokyo, U.S, New York

☆ Morning Bid: Sidestepping Moody's rating twist
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. It's the last of the three major rating agencies to maintain a top rating for the U.S. Treasury as Fitch lowered its rating in August and S&P removed its AAA in 2011. On one level, there's some relief the AAA rating was maintained despite the darker outlook. And that would at least keep the Federal Reserve at bay despite its warnings last week that another rate hike was still on the table. Line chart with data from LSEG Eikon show the U.S. consumer price index inflation, core CPI inflation and federal funds target rate from Jan. 2019 to Sep. 2023.

Persons: Brendan McDermid, Mike Dolan, Fitch, William Foster, Mike Johnson, China's, Joe Biden, Xi Jinping, Suella Braverman, David Cameron, Lisa Cook, Bank of England policymaker Catherine Mann, Tyson, Henry Schein Organizations: New York Stock Exchange, REUTERS, U.S . Treasury, AAA, Reuters, . House, Republican, Treasury, Federal Reserve, Tyson Foods, Walmart, Bank of England, Moody's, U.S . AAA, Thomson Locations: New York City, U.S, Wall St, San Francisco, New York

☆ The Latest News, Headlines, and Business Stories for November 13
▼ + stars: | 2023-11-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at what the $650 billion in unrealized losses means for financial firms. That's the unrealized losses US financial firms wracked up as of September 30, according to Moody's estimate. That means there's a lot of wiggle room for how big banks can portray them on their balance sheet. To be sure, big banks are better capitalized than SVB. Big banks' share prices noticeably dropped as bond prices sunk.

Persons: —, it's, Nikolas Liepins, it'd, Matthew Fox, Dow Jones, isn't, Wall, Jim Chanos, Chanos, Ralph Lauren, Expedia, Apple, Dan Clancy, he's, Tyler Le, Tyson, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Anadolu Agency, Getty, NFL, Bank, Bank of America, Orrell, CNBC, NBCU, Apple, Big Tech, Professional, Vegas Golden Knights, Stanley, Tyson Foods Locations: Florida, New York City, San Diego, London, New York

The yield on the 10-year Treasury was up less than 1 basis point at at 4.63%. The 2-year Treasury yield was last trading at 5.058% after slipping four basis points. U.S. Treasury yields were little changed Monday, as investors considered the state of the economy and awaited key inflation data due out this week for indicators of monetary policy decisions ahead. On Friday, Moody's Investors Services lowered its U.S. credit rating outlook from stable to negative, citing fiscal deficits and political division as key factors. Meanwhile, several key data points that could inform the Federal Reserve's upcoming monetary policy plans are expected this week.

Persons: Jerome Powell, Powell Organizations: Treasury, U.S, Moody's Investors Services, Federal, New Locations: U.S, New York

☆ Morning Bid: Chip stocks cheered while the rest retreat
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 30, 2023. Monthly retail sales data is due on Wednesday but the country's Singles Day shopping extraganza over the weekend - equivalent to Black Friday sales elsewhere - recorded only meagre growth. A sub-index of tech shares remained firmly positive but another of mainland property developers slumped more than 1%. U.S. retail sales data is also due on Wednesday, preceded by CPI a day earlier. ECB President Christine Lagarde last week said that rates will stay restrictive at least for several quarters.

Persons: Kevin Buckland Chip, Christine Lagarde, Luis de Guindos, Catherine L, Mann, Huw Pill, BoE's Mann, Sweden SEB, Kevin Buckland, Edmund Klamann Organizations: REUTERS, Staff, Wall, Reuters, Nikkei, CPI, Federal Reserve, Finance, Bank of England, New York Fed, Thomson Locations: Frankfurt, Germany, China, Hong Kong, Elswhere, Sweden

☆ Asia markets set to start week on strong footing; Biden-Xi talks awaited
▼ + stars: | 2023-11-13 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

An employee works at the Tokyo Stock Exchange in Tokyo, Japan, on Jan. 13, 2022. Asia-Pacific markets were set to open higher on Monday, bouncing off declines in the previous session as investors look to more economic data ahead of high-stakes talks between the U.S. and China. U.S. President Joe Biden and China's President Xi Jinping are set this week for their first in-person meeting in about a year. Separately, ratings agency Moody's Investors Service on Friday downgraded its ratings outlook on the U.S. government to negative from stable, pointing to rising risks to the nation's fiscal strength. Futures for Hong Kong's Hang Seng index stood at 17,372, pointing to a higher open compared with the HSI's close of 17,203.26.

Persons: Joe Biden, Xi Jinping Organizations: Tokyo Stock Exchange, U.S, Moody's, Nikkei Locations: Tokyo, Japan, Asia, Pacific, China . U.S, Chicago, Osaka, Australia

The week starts off with a bevy of unpleasant surprises for the markets and the economy but with maybe a hope of good news on the inflation front. “The decline in oil prices will feature prominently in explaining October's CPI and PPI reports. Core CPI likely slowed in October as well, with lower prices of new and used cars, lower airfares, and lower shelter costs all leaning the same way. PPI inflation likely moderated in October, too, with diesel prices following crude oil prices lower, albeit not by as much as gasoline. Powell’s comments were not anything new, but the timing seemed to suggest he was dampening down enthusiasm in the markets.

Persons: Moody’s, Mike Johnson, ”, Bob Doll, Republican Sen, Tim Scott of, David Cameron, Rishi Sunak, Stocks, Bill Adams, Waran Bhahirethan, ” Adams, Jerome Powell spooked, ” Powell, Oliver Rust, Sam Bullard, ” Bullard Organizations: U.S, AAA, Louisiana Republican, GOP, Senate, Crossmark Global Investments, Republican, Tim Scott of South Carolina, Conservative, Analysts, Comerica Bank, PPI, CPI, Federal Reserve, International Monetary Fund, Central Bank, “, Wells Locations: U.S, Louisiana, Tim Scott of South, London, Iraq, Syria, Gaza City, September’s, Israel, Washington

☆ House speaker's plan to avoid shutdown meets resistance from both parties
▼ + stars: | 2023-11-12 | by ( David Morgan | ) www.reuters.com time to read: +5 min

"This two-step continuing resolution is a necessary bill to place House Republicans in the best position to fight for conservative victories," Johnson said in a statement after announcing the plan to House Republicans in a conference call. The House Republican stopgap contained no supplemental funding such as aid for Israel or Ukraine. She said "House Republicans are wasting precious time with an unserious proposal that has been panned by members of both parties." A stopgap measure would give lawmakers more time to implement full-scale appropriations bills to fund the government through Sept. 30. McCarthy opted for the bipartisan route after hardliners blocked a Republican stopgap measure with features intended to appease them.

Persons: Mike Johnson, Johnson, Republican stopgap, Joe Biden, Karine Jean, Pierre, centrists, Sarah Silbiger, Chip Roy, Roy, Brian Schatz, Schatz, Biden, Johnson's, Kevin McCarthy, McCarthy, David Morgan, Timothy Gardner, Scott Malone, Daniel Wallis, David Gregorio Our Organizations: . House, Republican, Republicans, Democratic, White, AAA, ., Louisiana Republican, Food and Drug Administration, U.S, Capitol, REUTERS, Caucus, Social Security, Thomson Locations: Israel, Ukraine, Louisiana, Washington , U.S

☆ Stock futures are little changed after Moody’s downgrades U.S. outlook: Live updates
▼ + stars: | 2023-11-12 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock exchange during morning trading on November 10, 2023 in New York City. U.S. stock futures inched down Sunday night after Moody's Investors Service lowered its U.S. credit rating outlook to negative from stable. Moody's on Friday underscored the U.S.' "very large" fiscal deficits and partisan gridlock in Washington as contributing factors for the downgrade. The ratings agency reaffirmed America's credit rating at AAA, the highest level. The S&P 500 rose 1.3% the previous week, while the Dow and Nasdaq gained about 0.7% and 2.4%, respectively.

Persons: Moody's, Fitch, Jay Hatfield, That's, Lisa Cook Organizations: New York Stock, Moody's Investors Service, Dow Jones Industrial, Nasdaq, AAA, U.S, Infrastructure Capital Management, Federal Reserve Bank of New, Dow Locations: New York City . U.S, Washington, Hatfield

☆ Are US Treasurys still a safe-haven asset? An epic bond-market crash and rising default fears are sowing doubts.
▼ + stars: | 2023-11-12 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Financial markets have been engaged in a growing debate over the risks that lurk in Treasurys, with prominent voices raising doubts. AdvertisementAdvertisementIn March, a Richard Bernstein Advisors note said spreads on credit default swaps have climbed for Treasurys since since 2011, when the federal government was issued its first credit downgrade. Then came this spring's debt-ceiling drama and the US credit downgrade in August from Fitch, which cited the rising debt burden and political dysfunction. If a downgrade follows, then US debt wouldn't be in the safest category for default risk at any of the three major ratings agencies. Several auctions for long-dated Treasurys have seen weak demand, and buyers are demanding higher compensation for the risk of carrying Treasurys.

Persons: —, Moody's, they've, Mohamed El, Erian, Asset's Seema Shah, Treasurys, Richard Bernstein, Gennadiy Goldberg isn't Organizations: Service, Federal, CNBC, Dallas Federal, Richard Bernstein Advisors, Fitch, Penn Wharton Budget, Securities Locations: Treasurys, there's, US

☆ Moody's analyst sees polarization around US budget issues persisting next year
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +2 min

Moody's changed the U.S. credit outlook to negative from stable on Friday, citing larger fiscal deficits and a decline in debt affordability. Moody's typically "resolves" an outlook, meaning in case of a negative outlook it either brings it back to stable or goes ahead with a rating downgrade, within 18 to 24 months, he said. But the process may take longer and will depend on fiscal policy measures that will be taken. Moody's lower outlook comes after a bond selloff that has pushed long-term Treasury debt yields to levels not seen since 2007 in recent weeks. An environment of higher interest rates will likely result in higher interest payments and higher deficits, said Foster.

Persons: Julia Nikhinson, Moody's, William Foster, Foster, “, ”, Davide Barbuscia, Megan Davies, Chris Reese Organizations: U.S, Capitol, Congress, REUTERS, Reuters, Thomson Locations: Washington , U.S, United States

☆ US House Republicans eye plan to avert government shutdown as Moody's warns
▼ + stars: | 2023-11-11 | by ( David Morgan | ) www.reuters.com time to read: +5 min

The White House sought to pin blame for the outlook change, which cited the high deficit and rising interest rates, on Republicans. "Moody's decision to change the U.S. outlook is yet another consequence of congressional Republican extremism and dysfunction," White House spokesperson Karine Jean-Pierre said. House Republicans hope to vote on Tuesday on a stopgap measure, which could extend discretionary funding for federal agencies into mid-January. Representative Chip Roy, a prominent member of the hardline House Freedom Caucus, said he could accept a stopgap measure that also contains aid to Israel in its war with Hamas. McCarthy opted for the bipartisan route after hardliners blocked a Republican stopgap measure with features intended to appease the party's far right.

Persons: Mike Johnson, Sarah Silbiger, Moody's, Andy Harris, Karine Jean, Pierre, Joe Biden, Tom Cole, Cole, Johnson, Chip Roy, Roy, Biden, Johnson's, Kevin McCarthy, McCarthy, David Morgan, Scott Malone, Daniel Wallis Organizations: U.S, Capitol, REUTERS, Rights, . House, Republicans, AAA, Republican, White, Democratic, Caucus, Texas Republican, Social Security, Thomson Locations: Washington , U.S, U.S, Mexico, Washington, Israel, Ukraine

The approach is unusual for a stopgap spending bill. Johnson decided to go with the combination approach, addressing concerns from GOP lawmakers seeking to avoid being presented with a massive spending bill just before the holidays. “The bill will stop the absurd holiday-season omnibus tradition of massive, loaded up spending bills introduced right before the Christmas recess." A document explaining Johnson’s proposal to House Republicans, obtained by The Associated Press, said funding for four spending bills would be extended until Jan. 19. House Republicans pointed to the national debt, now exceeding $33 trillion, for Moody's decision.

Persons: Mike Johnson, Johnson, Joe Biden, Chip Roy, “, Pelosi, ’ ”, Karine Jean, Pierre, Kevin McCarthy Organizations: WASHINGTON, —, Republicans, “, Democratic, Treasury Department, Small Business Administration, House Republicans, The Associated Press, Veterans, State Department , Homeland Security, GOP, Moody’s Investors Service Locations: Israel, Ukraine, U.S, Mexico, Southern, Texas

☆ US House Speaker Johnson Floats Two-Step Measure to Avert Gov't Shutdown
▼ + stars: | 2023-11-11 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +5 min

Persons: David Morgan WASHINGTON, Mike Johnson, Johnson, Republican stopgap, Joe Biden, Karine Jean, Pierre, centrists, Chip Roy, Roy, Brian Schatz, Schatz, Biden, Johnson's, Kevin McCarthy, McCarthy, David Morgan, Timothy Gardner, Scott Malone, Daniel Wallis, David Gregorio Organizations: . House, Republican, Republicans, Democratic, White, AAA, ., Louisiana Republican, Food and Drug Administration, Caucus, Social Security Locations: Israel, Ukraine, Louisiana

☆ How US banks can wiggle out of the $650 billion balance-sheet bomb hanging over them
▼ + stars: | 2023-11-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +6 min

US banks are sitting on an estimated $650 billion in unrealized losses on their bond holdings. Here's why banks have flexibility in making sure that their $650 billion balance sheet bomb is defused. The bond crash culminated in an estimated $650 billion in unrealized losses held by banks, according to Moody's. How banks can defuse their balance sheet bombDespite the massive unrealized losses, banks are looking at three scenarios that could help ensure losses aren't realized. First, banks could simply hold onto their low-yielding debt until it matures and not realize any losses at all.

Persons: —, aren't, Louis Navellier, Geetu Sharma, Sharma, Banks Organizations: Service, Fed, Silicon Valley Bank, First Republic Bank, Signature Bank, Consumers, of America, Treasury, Federal Reserve, Banks, P Bank, P Regional Bank ETF

Moody's is the last of the three major rating agencies to maintain a top rating for the U.S. government. Fitch changed its rating from triple-A to AA+ in August, joining S&P which has had an AA+ rating since 2011. “While the statement by Moody’s maintains the United States’ AAA rating, we disagree with the shift to a negative outlook. The sharp rise in Treasury yields "has increased pre-existing pressure on US debt affordability," Moody's said. “Moody’s just downgraded our credit rating outlook to negative because of our out-of-control government spending and deficits," hardline Republican Representative Andy Harris said on X, formerly known as Twitter.

Persons: Shannon Stapleton, Joe Biden's, Fitch, Moody's, Karine Jean, Pierre, Moody’s, Wally Adeyemo, Adeyemo, Biden, Quincy Krosby, Donald Trump, Mike Johnson, “ Moody’s, Andy Harris, ”, Richard Rohan Francis, Davide Barbuscia, Andrea Shalal, David Morgan, Caroline Valetkevitch, Ira Iosebashvili, Megan Davies, Shilpi Majumdar, Shounak Dasgupta, David Gregorio, Chris Reese Organizations: REUTERS, . House, U.S ., Aaa, White, Republican, States ’ AAA, Treasury, Reserve, LPL, New York Times, Republicans, Democratic, Thomson Locations: New York City, U.S, WASHINGTON, American, Siena, Nevada , Georgia, Arizona , Michigan, Pennsylvania, Trump, Wisconsin

☆ Moody's changes US ratings outlook to negative, affirms AAA
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +7 min

REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsNov 10 (Reuters) - Moody's on Friday changed the outlook on the government of United States of America's ratings to "negative" from "stable". Moody's affirmed the long-term issuer and senior unsecured ratings at "Aaa". COMMENTS:REPUBLICAN REPRESENTATIVE ANDY HARRIS, ON X SOCIAL MEDIA“Moody’s just downgraded our credit rating outlook to negative because of our out-of-control government spending and deficits. "I don't think that there is a significant consequence. WALLY ADEYEMO, DEPUTY SECRETARY OF THE TREASURY"While the statement by Moody’s maintains the United States’ Aaa rating, we disagree with the shift to a negative outlook.

Persons: Shannon Stapleton, Moody's, ANDY HARRIS, JOHN CORNYN, ” STEVEN RICCHIUTO, you've, ” THIERRY WIZMAN, MACQUARIE, “ Moody’s, ” MICHAEL GREEN, JACK ABLIN, CHICAGO “, it's, ”, ” QUINCY KROSBY, CAROL SCHLEIF, We've, CHRISTOPHER HODGE, KARINE JEAN, PIERRE, Moody’s, WALLY ADEYEMO, Biden Organizations: REUTERS, Aaa, Moody’s Investors Service, Capitol, FX, NEW, Republicans, Democrats, BMO, KARINE, Republican, Congressional Republicans, States ’ Aaa, Biden Administration, Global Finance, Markets, Thomson Locations: New York City, U.S, United States, MIZUHO, Japan, CHICAGO, CHARLOTTE, NORTH CAROLINA, MINNEAPOLIS , MN, American

☆ US House Republicans plan shutdown-averting measure amid credit warning
▼ + stars: | 2023-11-10 | by ( David Morgan | ) www.reuters.com time to read: +2 min

A knowledgeable source, who spoke on condition of anonymity, said plans for the release of the continuing resolution, or "CR," were still in flux. U.S. House Speaker Mike Johnson has spent days in talks with members of his slim 221-212 Republican majority about several CR options. The Republican-controlled House and Democratic-led Senate must agree on a vehicle that President Joe Biden can sign into law before current funding expires on Nov. 17. Many lawmakers warn that a prolonged partisan fight over a stopgap measure could prevent Congress from averting a shutdown. As House Republicans debated their options this week, Senate Majority Leader Chuck Schumer took an initial procedural step toward moving his own stopgap measure.

Persons: Mike Johnson, Sarah Silbiger, Joe Biden, Moody's, Chuck Schumer, David Morgan, Daniel Wallis, Grant McCool Organizations: U.S, Capitol, REUTERS, Rights, . House, Republican, Democratic, Republicans, Thomson Locations: Washington , U.S, Washington, U.S, Mexico

☆ Take Five: That rate cut trade
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Nov 10 (Reuters) - Markets are keen to trade rate cuts and big central banks are pushing back, shining a new light on upcoming data in that tug of war. Traders, anticipating roughly three quarter-point Fed rate cuts next year, will now turn their attention to Tuesday's inflation data to confirm their view on the outlook. A sharper cooling could fan the peak rate talk, fuelled by October's employment report, which pointed to an easing in labor markets. Reuters Graphics Reuters Graphics3/ ONCE BITTENThe robust dollar suddenly appears vulnerable to the push and pull in the market's Fed rate cut bets. The data could also help justify, or challenge, recent remarks from BoE chief economist Huw Pill that mid-2024 could be the time for rate cuts.

Persons: Brendan McDermid, Lewis Krauskopf, Kevin Buckland, Danilo Masoni, Alun John, Dhara, Jerome Powell, Ping, Powell, Rishi Sunak, Sunak, BoE, Huw Pill, Sumanta Sen, Pasit, Riddhima Talwani, Prinz Magtulis, Jayaram, Dhara Ranasinghe, Tomasz Janowski Organizations: New York Stock Exchange, REUTERS, Traders, Reuters, Beijing, Reuters Graphics Reuters, Bank of England, Thomson Locations: New York City, U.S, China, New York, Tokyo, Milan, London, Washington, September's, Germany, Europe, ITALY, Italy

☆ Moody’s sends a warning to America: Your last AAA credit rating is at risk
▼ + stars: | 2023-11-10 | by ( Jason Moon | Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —The United States is one step closer to losing its last perfect credit rating after Moody’s Investors Service changed the outlook of the nation’s debt to negative on Friday after markets closed. These effects would likely be even more painful if Moody’s does eventually downgrade the US debt. The nation’s diminished fiscal strength, undone by extreme partisanship in Washington, was a key driver of the action, according to a statement from Moody’s. Standard and Poor’s downgraded the United States for the first time in 2011, following the debt ceiling standoff then. In August, Fitch Ratings knocked America’s credit rating down after the most recent debt ceiling debate.

Persons: America’s, Wally Adeyemo, “, Moody’s, Poor’s, Kevin McCarthy, Mike Johnson, Johnson, Karine Jean, Pierre Organizations: New, New York CNN, Moody’s Investors Service, United, AAA, Fitch, House Press, Republican, Treasury Locations: New York, United States, Washington, Moody’s, ”, American

WASHINGTON (AP) — The credit rating agency Moody’s Investors Service lowered its outlook on the U.S. government's debt on Friday to “negative” from “stable,” citing the cost of rising interest rates and political polarization in Congress. Moody's retained its top triple-A credit rating on U.S. government debt, though it is the last of the three major credit rating agencies to do so. A reduced outlook, however, raises the risk that Moody's could eventually strip its triple-A rating from the U.S. as well. A lower rating on U.S. debt could cost taxpayers if it leads borrowers to demand higher interest rates on Treasury bills and notes. Analysts have warned that with interest rates heading higher, interest costs on the national debt will eat up a rising share of tax revenue.

Persons: Moody's, Fitch, Biden, Moody’s, Wally Adeyemo, “, ” Moody's Organizations: WASHINGTON, Moody’s Investors Service, Fitch, AAA, Poor's, Treasury, States ’ Aaa Locations: American, Washington, U.S

☆ Moody’s Changes U.S. Credit Outlook to ‘Negative’
▼ + stars: | 2023-11-10 | by ( Alan Rappeport | More About Alan Rappeport | ) www.nytimes.com time to read: +1 min

The outlook on the credit rating of the United States was changed to “negative” from “stable” on Friday by the ratings firm Moody’s, which pointed to the nation’s worsening fiscal position and political polarization as long-term concerns for America’s economy. The change falls short of a downgrade to America’s credit rating, which Moody’s maintained at the highest AAA level. That downgrade, two months after the United States narrowly avoided defaulting on its debt, was the second in America’s history. Republicans have been pushing for severe spending cuts to reduce the gap between what America spends and what it earns in tax revenue. Mr. Biden has proposed reducing future deficits by expanding the economy and raising taxes on high earners and corporations.

Persons: Moody’s, Fitch, Biden Organizations: AAA, Republicans, America Locations: United States

☆ Sofia Coppola, “Priscilla” and the Art of the Alluring Sad Girl - The New York Times
▼ + stars: | 2023-11-10 | by ( Emily Yoshida | ) www.nytimes.com time to read: +3 min

But by then she was well positioned to occupy the rarefied worlds of alternative film, fashion and music, insulated from snarky criticism and the crassness of commercial demands. I don’t see the presence of these rarefied worlds — either in her biography or as depicted on the screen — as a shortcoming. Arguably, Ms. Coppola is exceptional as an artist because nobody among her contemporaries succeeds in preserving that pristine air the way she does, especially when used to embody an explicitly feminine worldview. There may be a rebelliousness in this stillness, and a romance — of taking up things and pondering them in your heart. But on the most basic level, what Ms. Hirschberg described as a strength is a tendency to abstain, to not do something — a tendency shared by many of Ms. Coppola’s protagonists.

Persons: Eleanor, Ms, Coppola, Mary Corleone, she’s, you’ve, Luke, I’ve, hosannas, Mary, Lynn Hirschberg, Sofia Coppola’s, ”, Hirschberg, Elvis Presley Locations: Bethlehem

The White House is seen at dusk on September 30, 2023 in Washington, DC. Moody's Investors Service on Friday lowered its ratings outlook on the United States' government to negative from stable, pointing to rising risks to the nation's fiscal strength. The ratings agency has affirmed the long-term issuer and senior unsecured ratings of the U.S. at Aaa. Moody's move to cut its outlook arrives as Congress faces the looming threat of a government shutdown once more. "Moody's decision to change the U.S. outlook is yet another consequence of Congressional Republican extremism and dysfunction," White House press secretary Karine Jean-Pierre said in a statement.

Persons: Moody's, Wally Adeyemo, Mike Johnson, Karine Jean, Pierre, Fitch Organizations: Moody's, Aaa, United States, Republican, White, Democratic, AAA Locations: Washington ,, United States, Washington, United, American, Jan, U.S

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