U.S. debt ceiling talks
Dollar, Equities, and Sovereign Debt Prices Somewhat Lower to Start New Week
May 15, 2023
Compared to closing levels before the weekend, the U.S. currency has lost 0.6% against the Australian dollar, 0.5% versus sterling, 0.4% relative to the Swiss franc,and 0.3% vis-a-vis the euro, New Zealand dollar, and Canadian dollar. Alternatively, the U.S. dollar has risen 0.5% against the Turkish lira and 0.3% versus the Japanese yen. Following higher […] More
Specter of a Looming U.S. Public Debt Default Looming Higher
May 9, 2023
Investors are finding it harder and harder to dismiss the U.S. debt ceiling standoff as a future danger but not a present influence on market behavior. President Biden and House Speaker McCarthy will hold talks at 20:00 GMT today at the White House in search of a compromise, but high political stakes will almost surely […] More
A Very Temporary Solution in the U.S. Debt Ceiling Debate
October 7, 2021
Progress has been made on averting a U.S. debt default that would otherwise have occurred in the middle of this month, but the reprieve only buys about two extra months. Even so, two months are better than nothing, so equity markets rallied overnight. And the dollar and price of oil moved lower. The dollar fell […] More
Budget Deal Not Finalized Yet
October 11, 2013
A meeting between congressional republicans and President Obama ended yesterday without a finalized extension of the debt ceiling. In overnight trading, Equities advanced by 1.6% in Australia and China, 1.5% in Japan, 1.3% in India, 1.2% in Hong Kong and South Korea, 0.8% in the Philippines and 0.5% in New Zealand. European stocks, by comparison, […] More
