The inventory Market Is on a Tear. Don’t Ignore the Debt Ceiling.

It’s on an everyday basis pleasurable till the invoice comes due—and the invoice on an everyday basis comes due. in point of fact, it’s coming due proper about now.

On Friday, Treasury Secretary Janet Yellen warned Congress that the U.S. would hit its debt ceiling this coming Thursday, forward of many had anticipated. That doesn’t imply the federal authorities might even be pressured to cease paying its funds then—Yellen believes that the Treasury has enough money and completely different methods to raise money to final it till early June—however it absolutely does imply that a draw again that was nonetheless purely theoretical has show to be a lot extra pressing as a end result of the X date approaches.


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