Global shares edged up on Tuesday, while the dollar eased back from five-week highs as U.S. lawmakers prepared for another round of talks to resolve the deadlock over the government’s borrowing limit.
The weaker dollar supported crude oil and equities, although investors were wary of crucial U.S. government debt-ceiling, with a little more than two weeks to go before the government could run short of money to pay its bills.
Investors have dumped short-term U.S. Treasuries that mature around the "X date" - the point beyond which the government runs out of money to pay its bills without an increase in the borrowing limit.Michael Brown, a strategist at TraderX, said he believed there would eventually be an agreement, but the concessions President Joe Biden's Democrats may have to make in order to strike a deal could come at a high cost to the U.S. economy.
"What I care about in terms of the debt ceiling, isn't the 'is it going to be raised, is it not going to be raised' pantomime stuff," he said. "What happens next and what needs to happen to get something over the line and, once it’s done, whether the can is kicked or whether there's a longer agreement, I think that will start to come into investors' thinking a little bit more," he said.
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Biden, congressional leaders likely to meet Tuesday for talks on raising the debt limitBiden did not detail much progress in the talks, but said he remained hopeful that an agreement could be reached with Republicans to avoid what would be an unprecedented debt default.
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Biden, congressional leaders likely to meet Tuesday for talks on raising the debt limitPresident Joe Biden says he and congressional leaders will likely resume talks on Tuesday at the White House over the debt limit as the nation continues to edge closer to its legal borrowing authority with no agreement in sight.
Leer más »
Biden, congressional leaders likely to meet Tuesday for talks on raising the debt limitPresident Joe Biden and congressional leaders will likely resume talks on Tuesday at the White House over the debt limit as the nation continues to edge closer to its legal borrowing authority with no agreement in sight. The meeting was initially supposed to be Friday, but was abruptly postponed so staff-level talks could continue before Biden and the four congressional leaders huddled for a second time. Biden was returning to Washington on Monday and is scheduled to leave for the Group of Seven summit in Japan on Wednesday.
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Biden, congressional leaders likely to meet Tuesday for talks on raising the debt limitBiden did not detail much progress in the talks, but said he remained hopeful that an agreement could be reached with Republicans to avoid what would be an unprecedented debt default.
Leer más »