If a planned fiscal consolidation in Colombia fails to stabilize public debt and comply with fiscal rules, it could lead to a ratings downgrade for the Andean nation, a top Moody's analyst said on Tuesday.

Decades of excessive spending by Congress has caused Moody's to lower America's credit rating. We'll look at federal revenue and spending over the past 59 years.

Moody's downgrade of the U.S. credit rating made it the third of the three major ratings agencies to downgrade U.S. credit since 2011 amid widening budget deficits.

The Moody’s announcement sent the yield on a 30-year Treasury bond to a high of 5.01% at one point on Monday. Bond yields rise as bond prices fall. When a selloff hits and demand for bonds dries up, it sends bond prices lower. In turn, bond yields move higher.

Yields in the Treasury market are rising, threatening to make it more expensive for consumers and the U.S. to manage debt.

Asian stocks rose on Tuesday while U.S. Treasury yields steadied allowing a bit of a breathing room for the U.S. dollar as investors took stock of the debt load of the world's biggest economy and awaited trade deals.

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

Moody’s Ratings has joined Fitch Ratings and S&P Global Ratings as the last credit agencies to downgrade the U.S. economy, the world’s largest. The agency cited the country’s