U.S. Credit Rating Rests On S&P’s London View of Washington

U.S. Credit Rating Rests On S&P’s London View of Washington

Pablo Martinez Monsivais/AP

A decision to cut the government’s credit rating would likely increase Treasury rates by 60 to 70 basis points over the “medium term,” raising the nation’s borrowing costs by $100 billion a year, JPMorgan Chase & Co.’s Terry Belton said.