Livestock Futures Swept Up in Broad Losses Following Fitch Downgrade
Earlier this week, Fitch Ratings downgraded the United States’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to AA+ from AAA. This was the first time the U.S. received a downgrade from one of the three main rating agencies since 2011.
Fitch cited several drivers behind its decision, including “a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters, notwithstanding the June bipartisan agreement to suspend the debt limit until January 2025.” The full report can be found here...
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