US stocks managed to eke out gains on Monday as bond yields eased off bigger gains and Wall Street largely shrugged off Moody’s downgrade of the US credit rating. Meanwhile, investors digested developments in President Trump’s tariff salvos. The Dow Jones Industrial Average (^DJI) edged up 0.3%. The S&P 500 (^GSPC) managed to close above
The President did an interview with a TV news channel – we’ll let you guess which one – while he was out there, during which he said money given to Ukraine was “p****d away” 12:34, 17 May 2025Updated 12:35, 17 May 2025 Back in the States. Off for a lie down(Image: AP) Donald Trump arrived
For decades, credit rating agencies have unintentionally provided bond investors with an almost guaranteed way to turn a profit: When the firms demote companies from investment-grade, many money managers are forced to sell, because they have mandates forbidding them from owning junk debt. Such sales typically happen fast, pushing prices below those for bonds with