Debt Ceiling

All Eyes On Draghi: Futures Flat, Euro Surges, Dollar Slides; Yuan Breaches 6.50

S&P futures are flat, still spooked by the WSJ's report that Gary Cohn will not be the next Fed chair, while both European stocks and Asian shares gain in a quiet overnight session in which everyone is looking forward to today's main risk event: the ECB meeting. The dollar continued to weaken against all of its peers with the Yuan breaching 6.50 for the first time since May 2016.

Pelosi And Schumer Offer 3-Month Debt Ceiling Deal, Ryan Quickly Dismisses As "Unworkable"

After weeks of speculation on how/if a debt ceiling increase might come to a fruition before, or possibly after, the Treasury department runs out of cash, the latest reports from Washington DC seemingly suggest that Chuck Schumer and Nancy Pelosi may step in to save the day for a divided Republican Party that can't seem to get out of its own way.

"Indecision Has Become A Global Pastime"

"Whether you conclude that indecision has become a global pastime, or it’s merely obstructionism and hypocrisy masquerading as such, it can’t be tolerated any more. The price is simply too high..."

Global Stocks Slide As Geopolitical Headwinds, Hurricanes Grow

Global risk sentiment remained gloomy coming into Wednesday, with global European and Asian stocks sliding on growing concerns about North Korea and political inaction in the US, another hurricane bearing down on the US and the American debt ceiling looming.

Why Yesterday's T-Bill Turmoil Is More Bad News For Trump

Spiking bill rates don’t signal investors are seriously worried about not getting repaid. What it does say is the paper sold Tuesday is relatively less attractive than it has been for a long time -- arguably because of the likelihood of a period of much greater price volatility -- which is something many bill investors are looking to avoid. 

Exposing The Narrative Of Debt, Fear, And Insecurity

"The political lesson is that in the good times, use debt to drug and pacify. In the bad, use it to create fear and insecurity... The same debt that floated their boats can be used to drown them."