A debt ceiling fight is looming in the U.S. yet again, giving investors another worry for markets this year.
sooner than expected
Some investors worry the Republican party's narrow majority in Congress could make it harder to reach a compromise this time.The debt ceiling is the maximum amount the U.S. government can borrow to meet its financial obligations.U.S. Treasury Secretary Janet Yellen said in January the government could pay its bills only through early June without increasing the limit, which the government hit in January.
brought total deposits into the Treasury General Account at the Federal Reserve to $283.53 billion on that day, with a closing balance of $252.55 billion after withdrawals.Some Treasury bills are featuring a premium in their yields that may be tied to an elevated default risk, according to some analysts.
In 2011, political gridlock in Washington over the debt ceiling sparked a stocks sell-off and took the U.S. to the brink of default, with the country losing its top-tier AAA credit rating from Standard & Poor's.
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