Fitch may downgrade the United States even if the Biden administration reaches a debt ceiling agreement with Capitol Hill. Fitch Securities strategists said that regardless of the outcome of the debt ceiling negotiations, Fitch is likely to downgrade the key credit rating of the United States, which could drag down Treasury yields as more money shifts to high-quality assets as a hedge. "even if the US can avoid a worst-case scenario of payment delays and defaults, we think Fitch could still downgrade the US to AA+, on the grounds that political brinkmanship and the debt path are unsustainable," strategists Gennadiy Goldberg and Molly McGown said in a report on Friday.