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Incorrect. > Fitch Downgrade August 1 2023 > SPY around 455 fell to 433 from August 1 to August 18 > By October 27th SPY bottomed around 410 (-10%) > From A
by quickthrowman 1y ago
Incorrect.
> Fitch Downgrade August 1 2023
> SPY around 455 fell to 433 from August 1 to August 18
> By October 27th SPY bottomed around 410 (-10%)
> From August 1 to October 23, US 10y yield went from 3.9% to 5%
Stocks went down and bond yields went up last time. The Federal Reserve raised the federal funds rate from 5-5.25% to 5.25-5.50% during the same time period.
- tedunangst 1y agoOh, I missed 2023. Was thinking of 2011 or whenever.
- quickthrowman 1y agoThe 2011 one was reported more widely since it was the first agency to downgrade Treasuries, and in that case borrowing costs did go down.