穆迪下调美国信用评级至Aa1，担忧政府赤字，美国股债汇盘后齐跌

Core Viewpoint - Moody's Ratings downgraded the U.S. credit rating from Aaa to Aa1, reflecting concerns over rising government debt and interest payments, and the inability of multiple administrations to agree on measures to reduce fiscal deficits and spending [1][5][6] Group 1: Credit Rating Downgrade - The downgrade by Moody's means that all three major rating agencies (Moody's, Fitch, and S&P Global) have now rated the U.S. below AAA [5] - Following the downgrade, U.S. stock indices, including the Nasdaq and S&P 500, fell by 0.4% in after-hours trading, and the yield on 10-year Treasury bonds rose from 4.44% to above 4.48% [1] Group 2: Fiscal Outlook - Moody's expressed a pessimistic view on the prospects for reducing deficits and spending, citing a continuous rise in the ratio of government debt to interest payments over the past decade [6][7] - The agency projects that by 2035, mandatory spending, including interest payments, will account for 78% of total government spending, up from 73% in 2024 [7] - The federal fiscal deficit is expected to grow from 6.4% of GDP in 2024 to nearly 9% by 2035, driven by rising interest payments and slow revenue growth [7][8] Group 3: Economic Factors - Despite the downgrade, Moody's noted that the U.S. retains significant credit advantages, including a large and resilient economy and the dollar's status as the global reserve currency [9][10] - The agency anticipates that the U.S. economy will continue to have strong growth potential and innovation capabilities, which will support productivity and GDP growth in the long term [10]