Unrelenting Political Brinkmanship Edges U.S. Closer to Default

Sharing is Caring!

Wall Street strategists are taking notice of the political turmoil, warning there is growing danger for financial markets as the clock ticks closer to Oct. 18, the date by which Treasury Secretary Janet Yellen expects the country to reach its limit on sovereign debt.

A debt ceiling breach is getting “a little too close for comfort,” TD Securities strategists Priya Misra and Gennadiy Goldberg wrote in a note to clients Tuesday.

Senate Majority Leader Chuck Schumer will force a vote Wednesday — his third try in nine days — on whether to take up a measure suspending the nation’s debt ceiling until December 2022. Republicans, as they did the last two times, promise to block him.

See also  Credit Suisse 5Y Credit Default Swaps rise again to 449bps. Lehman CDS were at 610bps days before collapse

“We’re not voting in any way to help raise the debt ceiling,” said Senator Mitt Romney of Utah, a Republican who sometimes works with Democrats. “As a group we are all together.”

finance.yahoo.com/news/unrelenting-political-brinkmanship-edges-u-060000007.html

Trending:
See also  The news creates conspiracy theories by being political partisans. And by being wrong all the time.

Views: 17

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.