HomeEconomyDebt bill looks to further raise cost of insuring U.S. defaulted contracts Economy Debt bill looks to further raise cost of insuring U.S. defaulted contracts By farahat May 30, 2023 0 47 views Share FacebookTwitterPinterestWhatsApp SPGI +0.25% Add to/Remove from Watchlist Add to watch list Add location The position has been successfully added to: Please name your holding portfolio type: purchase Sell date: quantity: price Point value: Leverage: 1:1 1: 1: LONDON (Reuters) – The cost of insuring against U.S. debt default fell further on Tuesday, reflecting investors’ support for a boost to the dollar agreed by U.S. lawmakers. Preliminary agreement on the exchange rate is optimistic .4 Trillion Debt Ceiling. 98 Trading picked up on Tuesday after much of Europe and the U.S. were closed for holidays on Monday. 98 In morning trade, U.S. one-year credit default swaps (CDS) – a market-based measure of default risk – narrowed to Basis Points (bps) from 10 basis points at Monday’s close, S&P Global Data (NYSE: 56 SPGI ) Show Market Tuesday intelligence. 98 US five-year CDS fell to bps from 10 data show that the basis point at the close of Monday. 98 The crucial first test will come on Tuesday when the House Rules Committee considers the debt ceiling bill, a necessary first step before the full House votes. 98 Both Democratic President Joe Biden and House Republican leader Kevin McCarthy believe they will have enough votes to pass it into law by June 5, when the Treasury Department says there will not be enough vote money to fulfill its obligations. 98 But some investors remain concerned about the debt-limit deal because some provisions of the proposed bill could undermine growth. 98 On the other hand, the expected issuance spree by the US Treasury to build up its cash buffer could significantly reduce market liquidity, which could push up short-term interest rates. 98 “We suspect these concerns may be overblown,” wrote Karl Schamotta, chief market strategist at Corpay in Toronto. 98 “While there are some procedural mines ahead that may affect the final wording, there is no comparison with the so-called ‘ The impact of ‘fiscal responsibility’-related spending from a macroeconomic perspective should be barely noticeable, leaving the government’s biggest spending largely unchanged,” Schamotta said. 98 With regard to the massive supply the U.S. government expects after passage of the debt ceiling bill, Schamotta noted that Treasury officials “have a good track record of slowing down issuance or otherwise minimizing the disruption caused by a surge in funding.” Practice.” 133 Share FacebookTwitterPinterestWhatsApp Previous article'American Gladiator documentary' review: ESPN documentary is funny and vagueNext articleOne Piece ‒ Episode 1063 farahat RELATED ARTICLES Economy Global stocks edge down with data boost fading, shutdown and quarter-end in focus October 1, 2023 Economy Analysis-Global bond investors fear more declines after vicious quarterly selloff September 30, 2023 Economy US inflation outlook brightens as underlying price pressures subside September 30, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! Please enter your email address here Website: Save my name, email, and website in this browser for the next time I comment. USA Trends Messi-mad Indian mom driving to Qatar to see hero in his final World Cup December 7, 2022 Drew Brees fakes lightning strike in promotional stunt for online sportsbook December 3, 2022 Who could be speaker, if not Kevin McCarthy December 3, 2022 3 bold Utah football predictions for Pac-12 Championship vs. USC December 3, 2022 Load more LAST NEWS Whole Foods CEO Jason Buechel on the Challenges and Opportunities of Following a Visionary Leader October 1, 2023 Yankees clinch 31st straight winning season October 1, 2023 Francis Ford Coppola Reveals How Often He Thinks About the Roman Empire: “Quite a Lot” October 1, 2023 Video: Deion Sanders Gifted Custom ‘Coach Prime’ Golf Cart Ahead of USC vs. Colorado October 1, 2023 Load more Featured NEWS '12th Victim' review: Showtime docuseries on spree killings have their own way February 17, 2023 Uber Rewards program to close later this year August 23, 2022 Micron to launch GDDR7 memory chips in early 2024 July 9, 2023 'Oppenheimer' New York red carpet canceled due to SAG-AFTRA strike July 14, 2023 Load more
