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“Janet Yellen is going to start restocking cash balances, from currency $50 billion to possibly $600-700 billion over the next three months,” explains Ritesh Jain of Pine Tree Macros.
European stock indexes edge lower as euro zone bond yields drop. News of a U.S. debt ceiling deal keeps Wall Street futures positive.
The deal would avert an economically destabilising default, so long as they succeed in passing it through the narrowly divided Congress before the Treasury Department runs short of money to cover all its obligations
US President Joe Biden and top congressional Republican Kevin McCarthy have come to a preliminary agreement to increase the federal government's debt ceiling but there are significant hurdles in the way to securing Congress' nod
A potential debt ceiling deal reached between President Biden and Speaker Kevin McCarthy has faced criticism from key Democrats, including those crucial to finalizing the agreement.