U.S. Treasury yields edged down in Tokyo on Wednesday after ratings agency Fitch lowered the country’s top credit rating.
The 10-year Treasury note declined about 3.2 basis points (bps) to 4.015% as of 0017 GMT, retracing part of its 9 bps rise from Tuesday.
Fitch overnight downgraded the U.S. government’s rating to AA+ from AAA, citing an expected fiscal deterioration over the next three years as well as a high and growing general government debt burden. It had placed the rating on watch for a possible cut in May.
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