If the U.S.’s loss of its final perfect credit rating boosts yields on Treasury debt, it likely would boost the cost of borrowing for both companies and consumers.

The yield on both 10 and 30-year government bonds rose on Monday after another credit ratings agency downgraded the US on Friday.

Royal Caribbean Cruises Ltd. regained its investment-grade status on Monday after Moody’s Ratings upgraded the global cruise operator’s credit rating on a strong demand outlook and better credit metrics.

American markets fell to open the week Monday, reacting to Saturday's news that Moody's Ratings was downgrading U.S. debt.

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).

Tracy and Joe disagree

Moody's cut the U.S. credit rating one notch to Aa1 from Aaa due to the federal government's ballooning budget deficit and soaring interest payments.

Foreign investors have been shedding U.S. Treasurys since November's election, with a sharp uptick in April that was followed by a slight reprieve recently, according to BNY iFlow data. "We don’t think weakening foreign demand is a short-lived phenomenon,