Dalio fears the U.S. will “print money” to pay off its debts, which creates a different problem for bondholders.

All three major U.S. stock market indexes rose Monday afternoon, following an earlier selloff sparked by long-dated Treasury yields surpassing the 5% mark after the financial ratings agency Moody’s downgraded the U.S. government’s credit rating late last week, citing rising debt and interest payment ratios.

Moody’s downgrades the U.S. credit rating for the first time since 1919, citing rising debt. Crypto markets react with Bitcoin and Ethereum slipping as investors weigh broader economic risks.