Long-dated Treasuries fell on Monday as investor attention turned to the US’ ballooning debt after Moody’s Ratings stripped the nation of its last top credit rating. The 30-year yield increased as much as nine basis points to 5.03%, the highest since November 2023, while the 10-year rate reached 4.56%, approaching last month’s high. Both retreated from those levels and were higher by less than two basis points shortly before midday in New York. The dollar remained weaker against all of its Group-of-10 peers, after the euro surged more than 1% to $1.1288. Moody’s announced Friday it was downgrading the US to Aa1 from Aaa, reinforcing Wall Street’s growing worries over the nation’s fiscal outlook as Capitol Hill debates even more unfunded tax cuts. The company, which trailed rivals, blamed successive presidents and congressional lawmakers for a ballooning budget deficit it said showed little sign of narrowing. “I wouldn’t overemphasize the importance of this downgrade – but it adds to the ‘de-dollarization’ theme that was already in place,” said Jordan Rochester, head of macro strategy for EMEA at Mizuho International Plc.