As above, deja vu, all over again!
Mid June may supply some excitement!
https://asiatimes.com/2023/04/us-sovereign-risk-soars-as-debt-ceiling-battle-rages/
Insuring US Treasury notes against default now costs more than insuring Mexican debt, as House Republicans threaten to push the US into technical default rather than give the Biden administration more room for deficit spending.
If April tax receipts turn out to have been weaker than expected, default could hit as early as mid-June. US Treasury Secretary Janet Yellen has warned of “catastrophe.”
The cost of five-year credit default swaps (insurance against US default) now exceeds the cost of similar protection against Mexican foreign debt – something that hasn’t happened previously in financial history.
As above, deja vu, all over again!Mid June may supply some...
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