'Big, beautiful bill' – implications for US sovereign rating - July 2025

Congressional approval of this signature piece of legislation will add to US fiscal pressures captured by our Negative Outlook on the sovereign rating.

Join us for this webinar when Eiko Sievert and Alvise Lennkh-Yunus from Scope’s Sovereign and Public Sector team will lay out their thoughts on the key issues, including:

• The fiscal outlook, the rising US interest burden and debt-sustainability risks;
• The impact of unresolved trade negotiations with major US trading partners and implications for US economic growth;
• Governance risk: greater use of executive orders, challenges to Fed independence, increasing political polarisation and recurring debt-ceiling stand-offs;
• Implications for the status of the US dollar as the global reserve currency following US policy shifts;
• Implications of US trade and foreign policy on Europe’s economic outlook.