The clock is ticking on US debt ceiling negotiations. Treasury Secretary Yellen informed Congress that cash balances are estimated to run out by early June, the socalled X-date. With the deadline fast approaching, markets are sending signals about investor concerns. Treasury bills with maturity dates in mid-summer are seeing higher yields. While there is no playbook on how this showdown will unfold, sadly, this is not our first rodeo either.
On The Mark
May 15, 2023