不再是Triple-A- Moody在债务和市场混乱中剥夺了我们的最高评级

周五，信用评级机构穆迪（Moody）将美国的长期信用评级从AAA降低到AA1，指出了十年的债务和利息支付压力的升级。

Credit rating agency Moody’s has downgraded the United States’ long-term credit rating from Aaa to Aa1, highlighting a decade of rising debt and escalating interest payment burdens amid turbulent market conditions and disjointed activity across bonds.

信用评级机构穆迪（Moody's）已将美国的长期信用评级从AAA降低到AA1，突出了十年的债务上升，并在动荡的市场条件和各个债券的活动中脱颖而出的利息支付负担不断增加。

The agency, a Nationally Recognized Statistical Rating Organization (NRSRO) authorized under U.S. securities law to evaluate government credit, said the U.S. continues to operate with sizable deficits without engaging in substantial fiscal tightening—either through spending restraint or increased taxation—leading to a snowballing debt load and diminishing capacity to manage interest obligations.

该机构是根据美国证券法授权评估政府信贷的全国认可的统计评级组织（NRSRO），他说，美国继续以巨大的赤字运作，而无需进行大量财政收紧 - 通过支出限制或增加税收或增加的税收，这是为了使滚雪球的债务负担和减少利息的能力，以管理利息的利息。

“The downgrade of the U.S. government's rating is driven by the administration's escalating budgetary strains, which are unfolding amid a turbulent macroeconomic landscape and escalating geopolitical tensions,” said Moody’s Chief Credit Officer, John Porter.

穆迪首席信贷官约翰·波特（John Porter）表示：“美国政府的评级降级是由政府不断升级的预算压力所驱动的，这在动荡的宏观经济景观和地缘政治紧张局势上升，这正在不断发展。”

Federal debt is projected to rise noticeably, advancing from 98% of GDP in 2024 to 134% by 2035. Meanwhile, federal deficit is projected to widen to nearly 9% of GDP over that period, the agency said.

该机构说，联邦债务的上涨将明显上升，从2024年的GDP的98％到2035年的134％。与此同时，该机构在此期间预计联邦赤字将扩大到GDP的近9％。

To worsen matters, interest on the debt could consume 30% of federal revenue by 2035, a sharp increase from 18% in 2024 and just 9% in 2021, Moody’s said.

穆迪说，到2035年，债务的利息可能会消耗30％的联邦收入，从2024年的18％急剧增加，而在2021年只有9％。

The U.S. is now grappling with recession concerns, turbulent market behavior, and disorder in fixed-income markets—largely driven by a mix of aggressive tariff regimes and elevated borrowing costs. In early April, President Trump introduced sweeping duties on all trading partners, setting a baseline levy with steeper penalties for nations having significant trade surpluses against the U.S.

现在，美国正在努力应对固定收入市场的经济衰退问题，动荡的市场行为和混乱，这是由积极的关税政权和借贷成本提高的混合所驱动的。在4月初，特朗普总统对所有贸易伙伴介绍了庞大的职责，为对美国的贸易盈余大量盈余的国家设定了较高的罚款

These broad trade actions, now encompassing trillions in imports, have roiled financial markets, dampened confidence in the S&P 500, sparked distress signals in bond pricing, and contributed to a softer U.S. dollar.

这些广泛的贸易行动，如今已包含数万亿美元的进口，使金融市场震惊，对标准普尔500指数的信心抑制了信心，引发了债券价格的遇险信号，并促成了柔和的美元。

Moody’s noted the enduring pillars of the U.S. economy—its vast scale, technological dynamism, and the unrivaled status of the U.S. dollar as the world’s primary reserve currency. However, these foundational attributes no longer fully counterbalance the nation’s worsening fiscal trajectory.

穆迪（Moody）指出，美国经济的持久支柱 - 庞大的规模，技术活力以及美元作为世界主要储备货币的无与伦比的地位。但是，这些基本属性不再完全平衡国家恶化的财政轨迹。

Despite retaining a high credit rating, the downgrade may incrementally elevate borrowing costs and dampen investor enthusiasm for U.S. sovereign debt.

尽管保留了高信用等级，但降级可能会逐步提高借贷成本，并削弱了投资者对美国主权债务的热情。

Moody’s said America’s fiscal standing is deteriorating not only in absolute terms but also in comparison to its affluent peers. At its core, Moody’s sees a government deeply tethered to debt financing, showing little inclination to change direction—casting a deepening shadow on the long-term viability of U.S. public finances.

穆迪说，美国的财政状况不仅在绝对方面都在恶化，而且与富裕同行相比。穆迪（Moody's）以此为核心，看到一个政府深深地依靠债务融资，几乎没有改变方向的倾向，这是美国公共财政的长期生存能力的深度阴影。