America’s Credit Rating Went Down. So What?
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The Risk of Credit Spread in the Treasury Market
The idea that there's credit risk to the US government is not something that people really care about in any kind of way. By definition, there is no credit spread for the US treasury bonds because they are just the interest rate. If you have a fund that says, we only invest in AAA rated securities, it will actually say very explicitly and certainly since 2011, we only investment in AAA securities and US treasury back securities. It operates according to its own rules.
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