For a minute there, it looked like the “Sell America” trade was poised to make a comeback on Monday after Moody’s decided to strip the U.S. of its top-tier credit rating late Friday.

Moody's cut its credit rating on US Treasury bonds, but wealth managers don't seem to be overly concerned - at least not yet.

Moody’s lowered the U.S. credit score to Aa1 from Aaa on Friday, joining Fitch Ratings and S&P Global Ratings in grading the world’s biggest economy below the top, triple-A position. The one-notch cut comes more than a year after Moody’s changed its outlook on the U.S. rating to negative. The credit assessor now has a stable outlook.

A weekslong climb in longer-term yields has been fueled by persistent worries about inflation and concerns that wider deficits will necessitate larger auctions.

After the United States lost its last perfect credit rating on Friday, Republicans and Democrats responded by pointing fingers at each other.

Moody's cut the U.S. credit rating last week, dropping it one notch from the top rating of Aaa to a lower classification of Aa1.