Moody's downgrade of the U.S. sovereign credit rating late Friday appeared to have a modest impact on corporate bond market activity on Monday, as spreads widened slightly and new bond sales started the week softer than expected.

Long-dated Treasuries fell on Monday as investor attention turned to the US’ ballooning debt after Moody’s Ratings stripped the nation of its last top credit rating.

Bitcoin sold off from $107,000 due to profit taking, and the recovery back to $105,000 is a sign that multiple bidders expect higher prices in the near future.

Gold prices drifted higher on Monday, steered by a softer dollar and safe-haven demand after Moody's downgraded the U.S. government's credit rating. Spot gold rose 0.9% to $3,229.51 an ounce by 1315 ET (1715 GMT).

White House National Economic Council Director Kevin Hassett criticized Moody’s Ratings over its decision to lower the US credit rating, calling the move backward-looking and saying the Trump administration is committed to lowering federal spending.

The US is no longer a triple-A sovereign credit, but top banks think investors are focused on other market narratives, with volatility to be short-lived.

China on Monday called on the United States to take responsible policy measures to maintain the stability of the international financial and economic system and safeguard the interests of investors.