JPMorgan expects the U.S. debt ceiling to become an issue as early as next month with the Wall Street bank ascribing a 'non-trivial risk' of a technical default on U.S. Treasuries.
A sign outside JP Morgan Chase & Co. offices is seen in New York City, U.S., March 29, 2021. REUTERS/Brendan McDermid
In a note published to clients late on Wednesday, JPMorgan said it expected both the debate over the debt ceiling as well as the one on the federal funding bill to run "dangerously close" to their final deadlines. The debt ceiling is the maximum amount the U.S. government can borrow to meet its financial obligations. When the ceiling is reached, the Treasury cannot issue any more bills, bonds or notes. It can only pay Treasury bills through tax revenues.
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