Ray Dalio says the risks from U.S. credit downgrade ‘are greater than the rating agencies are conveying’

• The U.S.’s credit downgrade only covers part of the risks bondholders are facing, according to famed investor Ray Dalio. Moody’s lower credit rating doesn’t capture the danger of what would happen if the U.S. printed money to pay off its debts, which would lower the value of the dollar and mean that returns from bonds yields would be worth less than they otherwise would, according to Dalio. 

Legendary investor Ray Dalio warned that Moody’s recent downgrade of the U.S.’s...