On May 16, 2025, Moody’s downgraded the United States’ credit rating, making it the last major rating agency to strip the United States of its Aaa rating. This downgrade is more than a technical ...

Through time, governments have often been dependent on debt to finance themselves, some in the local currency and much in a foreign currency. The consequences of sovereign default have been both ...

Emerging market debt has had a very salient couple of years, changing from a relatively sane, higher-yield product to a riskier product. In recent years, sovereign defaults have become a problem, ...